became the chief executive officer of the private banking division into november, 2012, rob shafir and i were appointed to the newly and division called private banking and management. as a swiss person who has spent close to 30 years in the financial services industry there are two points i want to emphasize. first is the agreed swiss bank secrecy was abuse by some clients to hide tax money from their local tax authorities. we also recognized there were some swiss bankers who helped those clients to hide their money. i want to state that directly to the committee this approach by some clients in some bankers is totally unacceptable. not everyone in switzerland wants to deal with this but in my view the swiss banks have to recognize this issue and accept their share of responsibility. the second point i want to make is that it's clear to me personally to the entire management team of the bank that the only way forward for the private banking business is to serve only the compliance in the law and this has been our goal for some years. in 2008 they left ubs. we have come to did a series