Swiss Banks Vie for Declared American Assets Amid Probe

Swiss wealth managers are resuming the fight for American clients four years after the U.S. sued UBS AG in a case that undermined banking secrecy and triggered the withdrawal of billions of dollars from Zurich and Geneva.

UBS expects to report assets at its Securities and Exchange Commission-registered business rose 20 percent to $4.6 billion last year, even as more recent market entrants, including Syz & Co. Group and Reyl Group, vie with Switzerland’s biggest bank for Americans who can prove their funds are declared.