Raiffeisen was meant to publish its annual report on Wednesday. The embattled Swiss retail lender said it will delay the release – due to the arrest of its former CEO Pierin Vincenz.
The St. Gallen-based cooperative bank said it would push back the publication of its annual report, scheduled for Wednesday, due to «content revisions». Raiffeisen said it will release its annual report in roughly three weeks instead.
The delay was caused by the sudden exit of its Chairman Johannes Rueegg-Stuerm following the arrest of former CEO Pierin Vincenz, a spokesman for the bank told Swiss newswire «SDA/AWP» (in German). Vincenz, who has been jailed for the past five weeks, is being investigated over allegations he enriched himself with secret side deals involving the bank.
While authorities pursue the criminal case, Raiffeisen is the subject of an enforcement probe by Swiss regulator Finma. Its CEO, Patrik Gisel, has also been questioned by prosecutors in the criminal probe.
