Raiffeisen chair resigns over scandal-tainted former CEO
Keystone
Johannes Rüegg-Stürm, the chairman of the board of directors of Switzerland’s third-largest bank has resigned from his position with immediate effect. The bank hopes turn a new page following the arrest and criminal proceedings against former CEO Pierin Vincenz.
This content was published on
1 minute
swissinfo.ch/ac
A statementExternal link released by the bank on Thursday, said the move was intended to “preserve the long-term credibility of the bank”. Rüegg-Stürm’s resignation “will open the path to renewal of the board” it added. Board vice-president Pascal Gantenbein will assume interim charge of the board until a replacement can be found.
“My priority task will be to continue the the renewal process already initiated within the board of directors and ensure governance in order to build confidence and credibility in the co-operative,” said Gantenbein.
On March 3, Zurich authorities placed Pierin Vincenz, the former chief executive Raiffeisen who is suspected of corporate fraud, in custody to prevent him communicating with other accused individuals. The 61-year-old has been dogged by suspicions of conflict of interest during his tenure as Raiffeisen boss, during which he personally invested in subsidiaries of the banking group. In addition, Raiffeisen is still facing proceedings from the Financial Market Supervisory Authority (FINMA).
More
More
Former Raiffeisen boss held in custody
This content was published on
Zurich prosecutors have placed Pierin Vincenz, the former chief executive of Swiss banking group Raiffeisen, in custody.
Basel diocese files five claims of sexual abuse in Swiss Catholic Church
This content was published on
The diocese of Basel has received 141 reports of sexual abuse since the publication of a sweeping study on violations in the Catholic Church by the University of Zurich in 2023.
Swiss president calls for open markets and stable institutions in WEF speech
This content was published on
Swiss President Karin Keller-Sutter was among speakers at the WEF in Davos to make the case for fair competition, a day after Donald Trump became the 47th president of the United States.
Swiss film in competition at the 75th Berlinale has a shot at Golden Bear
This content was published on
The feature film La Cache by Lausanne screenwriter and director Lionel Baier has a chance of winning the Silver or Golden Bear at the 75th Berlinale, festival organisers said on Tuesday.
Swiss politician who shot at image of Jesus resigns from Liberal Green Party
This content was published on
Sanija Ameti, who caused controversy after shooting at an image of Jesus and Mary last September, has resigned from the Liberal Green Party.
Swiss campaigners gather enough signatures to submit ‘responsible business’ initiative
This content was published on
The Swiss people are set to vote again on the corporate responsibility of multinationals after campaigners collected 183,661 signatures in 14 days for their new 'responsible business' initiative.
Several Swiss municipalities and banks hit by cyberattack
This content was published on
Russian hackers attacked the websites of several Swiss municipalities and banks on Tuesday, just as the World Economic Forum (WEF), got under way in Davos.
Music strengthens brain connections in premature babies, Swiss study shows
This content was published on
In premature babies, music strengthens connections in certain areas of the brain, according to a years-long study by the University Hospitals of Geneva (HUG).
WEF gives Crystal Award to Beckham, Yamamoto and von Fürstenberg
This content was published on
The World Economic Forum in Davos handed out awards to UNICEF ambassador David Beckham, Japanese architect Riken Yamamoto and women's rights activist Diane von Fürstenberg.
Swiss CEOs betting on a strong domestic market in 2025
This content was published on
Swiss business leaders are optimistic about 2025, despite a world in crisis, says a new survey by Pricewaterhouse Coopers.
This content was published on
Economics Minister Guy Parmelin and Foreign Minister Ignazio Cassis have welcomed Chinese Vice Premier Ding Xuexiang to Bern
Former Raiffeisen boss Vincenz faces criminal probe
This content was published on
“Raiffeisen is therefore making a maximum contribution to the complete clarification of all processes,” the bank said in a statement on Wednesday. Vincenz has been dogged by suspicions of conflict of interest during his tenure as Raiffeisen boss, during which he personally invested in subsidiaries of the banking group. There have also been questions surrounding…
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.