The Board of Directors of Bank CIC Switzerland appoints Livia Moretti as CEO, taking over from the interim CEO.
Livia Moretti becomes CEO of Bank CIC Switzerland beginning February 1, and succeeds interim CEO David Fusi, according to a statement from CIC Tuesday.
For the past ten years, Moretti was a member of the Executive Board of the European Central Bank (ECB), leading multicultural teams across several countries, and gaining experience in international banking strategy, practice and regulation. According to her Linkedin profile, the Luxembourg national started her banking career at KBL which in 2020 was rebranded as Quintet Private Bank.
Interim CEO
Moretti takes over from David Fusi, who has been heading Bank CIC Switzerland on an ad interim basis since December 23. Fusi has been a member of the executive board since 2011, and as of February will again focus on his tasks in customer service.
Former CEO Dismissed
In December, CEO Thomas Mueller was dismissed, as «Inside Paradeplatz» first reported, and dismissals of other high-ranking employees soon followed.
The departures were said to have been triggered by irregularities at the St. Gallen branch, which opened in 2017. A client is said to have been granted loans in the tens of millions for real estate projects, some of which were financed in full by CIC, as finews.com reported yesterday.
As a result, the Swiss Financial Market Supervisory Authority (Finma) is now taking a closer look at the Basel-based Swiss subsidiary of the French banking group Crédit Mutuel.
By way of introduction for the new CEO, Chairman Éric Charpentier said «with her long experience in the international financial sector, Livia Moretti is the ideal person to take on the responsible role of CEO. On behalf of the entire Board of Directors of Bank CIC, I wish her every success and pleasure in her new position.»
