Withers, the international law firm, has expanded its team based in its new Zurich office, which is due to open in April, with the appointment of Michael Parets as special counsel, focused on US federal tax and compliance issues affecting clients in the Swiss market.

Parets was latterly an associate at Baker & McKenzie. He has also worked for Katten Muchin Roseman. He has spent over eight years at law firms in New York City and two years in Zurich.  

In his new role, Parets will advise financial institutions, corporations and individuals on the various aspects of wealth planning, including international tax planning, the disclosure of offshore accounts and holding structures, and cross-border succession issues, the firm said in a statement.

The appointment comes at a time when there is an increasing need for US related cross-border tax services due to such far-reaching US legislation as the Dodd-Frank Act and the Foreign Account Tax Compliance Act.

“With full-scale implementation of the Dodd Frank and FATCA legislation on the horizon and the recent announcement of the new Offshore Voluntary Disclosure Initiative, these are interesting and challenging times for individuals and companies with US interests,” said Parets of his appointment.