Swiss bank Raiffeisen has appointed Heinz Huber its new CEO as a part of its latest restructuring.
Huber will take over responsibility from Michael Auer on 7th January 2019. Auer assumed the responsibility barely ten days ago after the hastened exit of CEO Patrik Gisel.
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Gisel resigned as CEO earlier this month when it emerged that he maintained a secret relationship with one of the bank’s board directors, Laurence de la Serna, CEO of a Geneva-based aerospace firm
Huber is currently the chairman of Swiss retail lender Thurgauer Kantonalbank.
Commenting on the appointment, Huber told Reuters: “I’m looking forward to sharpening Raiffeisen Switzerland’s profile and further developing it on behalf of the whole group.”
Earlier this month, Raiffeisen selected Guy Lachappelle as the new chairman of the company in an extraordinary general meeting.
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By GlobalDataLachappelle predecessor Johannes Rüegg-Stürm resigned from his post in March following the launch of an investigation on alleged frauds committed by the company’s former CEO Pierin Vincenz.
In an investigation, financial market supervisor FINMA found ‘serious shortcomings’ at the bank. The regulator also noted that the bank failed to monitor Vincenz. It said the bank’s directors had “at least potentially” enabled Vincenz “to generate personal financial gain at the bank’s expense”.
