Pierin Vincenz, under fire for his dealings during his spell as head of Raiffeisen, resigned as chairman of Helvetia, the Swiss insurance company. The firm assigned the role to his deputy ad interim.
Pierin Vincenz stepped down from his job with immediate effect, Helvetia said in a statement today. Finma, the Swiss financial market regulator, is currently investigating his activities during his time at Raiffeisen bank.
«In recent days, it has become clear that the Finma probe can’t be fast-tracked and that it won’t be concluded in time for the coming annual general meeting of Helvetia in April 2018,» said Vincenz.
«The ongoing uncertainty and the side-effects of media reporting into this probe prompted me to resign with immediate effect in the interest of the company. Thus, Helvetia will be able to plan my succession without the added strain,» he said.
Chairwoman ad Interim
Helvetia isn’t affected by the Finma probe, which doesn’t cover Vincenz’ work for the insurer. He was a member of the board since 2000 and chairman since October 1, 2015.
Helvetia put Vincenz' deputy, Doris Russi Schurter, in charge until the AGM decides about the succession on April 20, 2018.
