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ZURICH (Reuters) - The chairman of Switzerland's third-largest bank, Raiffeisen, will step down with immediate effect after former CEO Pierin Vincenz was placed under investigation by prosecutors in a breach of trust probe, the lender said.
Vincenz has been placed in investigative custody in the criminal probe. He denies wrongdoing but has been forced to resign from his business roles amid the probe.
(Reporting by Michael Shields; Editing by Muralikumar Anantharaman)
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