François Reyl, the director-general of Swiss bank Reyl & Cie, is being investigated by the French authorities in tax evasion case and has been asked not to leave France.
According to Reuters, Francois Reyl and his father Dominique, Reyl & Cie’s chairman, were put under formal investigation in October on suspicion that the bank helped a French cabinet minister to hide undeclared assets in a secret Swiss bank account.
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The French judiciary has also imposed a ban on his functions as head of Reyl.
The bank said: "This decision totally disproportionate and unjustified ignores efforts for several months to meet the demands of the French judicial authorities, in strict accordance with Swiss law.
"The bank stressed that the procedure involves a small number of customers and it fits in the context of differences between France and Switzerland concerning the liability of Swiss banks in relation to the compliance of the tax status of their French customers," it added.
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