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A press conference to announce the annual results of UBS, Switzerland's largest bank, in an auditorium in the bank's complex of buildings in the centre of Zurich. At left is Oswald Grubel, Group CEO of UBS, at centre is John Cryan, Chief Financial Officer, and to the right Caroline Stewart, Global Head of Investor Relations. The Swiss banking industry holds an estimated 4,000 billion Swiss Francs (USD 4,240 billion) in assets, more than half of it foreign, including CHF 880 billion in undeclared European assets alone, benefiting from the country's famous banking secrecy laws.