UK-based Coutts has denied rumours they are the target of a US tax investigation, following the arrest of one of their Geneva-based bankers.
US authorities arrested a Swiss banker on arrival in New York over allegations he assisted clients evade tax.
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The Swiss national based with Coutts in Geneva was detained, before being moved to Florida to face charges at the Miami Federal Court.
A spokesperson for Coutts said they were not in a position to comment on the arrest.
According to multiple media reports, the 55-year old has yet to be named, but consular officials for Switzerland in New York confirmed they had been notified about the arrest and where offering assistance.
The suspect, who has previously worked with UBS in Geneva, is believed to have advised US-Russian citizens on tax evasion.
The US has arrested multiple Swiss bankers in recent years over allegations of involvement in tax evasion.
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By GlobalDataA spokesperson for Coutts said it was company ‘policy to only do business with US declared, or US tax compliant clients’.
"Coutts understands its obligations to both its clients and government authorities."
Coutts was fined GBP8.75m ($13.6m) in March last year for failing to implement adequate controls to prevent money laundering by high-risk customers.
