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Swiss bank Raiffeisen's chairman steps down amid probe of ex-CEO

Reuters  |  ZURICH 

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.Johannes Rueegg-Stuerm is taking the step "to preserve Raiffeisen Swiss's long-term credibility", it said in a statement late on Thursday. "With this step the veteran chairman of Switzerland's third-largest bank is taking responsibility. He is clearing a path to drive forward renewal of Raiffeisen's supervisory board."It named Pascal Gantenbein as interim ...

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First Published: Fri, March 09 2018. 13:21 IST