The Swiss cooperative bank nominated a finance and risk veteran of private banking as its new chair. He is the third man to oversee Raiffeisen in four years.
St. Gallen-based Raiffeisen will nominate Thomas Mueller (pictured below) as its new chairman at a specially-convened delegate meeting in December, it said in a statement (in German) on Wednesday. He will be the third chairman of Raiffeisen, one of five systemically relevant banks in Switzerland, since 2018.
The Swiss banker is to replace Guy Lachappelle, who stepped down in July amid revelations his personal life intervened in his previous job at a bank. Lachappelle had been brought in to repair Raiffeisen's reputation, which was tarnished by a criminal probe into its ex-CEO, Pierin Vincenz.
Outside Expertise
Mueller, already a board member of Raiffeisen, is a former risk and finance expert of EFG International and J. Safra Sarasin. Alongside him, Raiffeisen said it will also nominate Sandra Lathion as well as Martin Sieg Castagnola to its board.
Lathion is a director of Valais' cantonal bank while Sieg Castagnola is the ex-finance chief of Vontobel who currently oversees the financial affairs of one of that bank's major shareholders, Hans-Dieter Vontobel.
