Sunday , June 13 2021

20 minutes – "We're disappointed by Patrik Gisel"

At an extraordinary meeting on Saturday, Raiffeisen Bank representatives took another step from the shadow of former Swiss CEO Pierre Vincenz, Raiffeisen. They have selected candidate Guy Lachappelle considerably more as new Chairman of the Board of Directors of Raiffeisen Switzerland and have also adopted further steps towards the reform of the Raiffeisen Group.


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Raiffeisen representatives have set the course for the future, the new president said after his election to the media. The former chief executive of the Basler Kantonalbank, who has taken over as chairman of the board who has been an orphan since March 2018, promised his new role of "commitment and passion" as well as "willing to change".

The 163 representatives from 246 Raiffeisen Banks were elected to Karin Valenzano Rossi, Andrej Golob, Thomas Müller and Beat Schwab on the board in Brugg-Windisch. With the simultaneous resignation of three existing members, the board of directors no longer includes members from the era of controversial CEO Pierin Vincenz.

Looking for a new CEO

On the other hand, the banking group remains without a CEO at the moment, as former CEO Patrik Gisel had announced his resignation on Friday night after heavy media pressure. The search for a new CEO had already gone ahead, said Vice-President Pascal Gantenbein, but without giving a date for a new appointment.

In a written statement read by Gantenbein, Gisel confirmed his love with a resigned manager of Raiffeisen in the summer. However, they did not exist when they left the council, according to which there were no conflicts of interest. Respective surveys from Raiffeisen will have confirmed this, said Gantenbein.

reform program

The Assembly of Representatives also gave Raiffeisen Switzerland a mandate to start the next steps of the reform program "Reform 21". Also, individual banks are hoping for greater influence and co-determination at group level, as Kurt Sidler said as chairman of the regional union coordination group. However, according to Sidler at the base level, there are hardly any supporters to convert Raiffeisen Switzerland to AG, which was proposed by the Finma Financial Market Authority.

Dealers also approved Raiffeisen Switzerland's revised remuneration system. In June June in Lugano, the wage increase for the Board of Directors in 2017 has sparked intense debate. From next year, the Board's remuneration is expected to fall by about 25%, Vice-President Gantenbein has promised now.

Takeoff is prohibited

The independent survey of the Vincenz era led by Economics Professor Bruno Gehrig, whose interim result was presented to dealers, confirmed Finma's prudential assessment. For example, at the time of CEO Pierin Vincenz, the Raiffeisen Group was developing very quickly with acquisitions, without proper structures against the "lead CEO". "There was a shirtlessness that was certainly not appropriate," said Gantenbein.

More detailed findings of the investigation, which should be completed by the end of the year, will not be published at this time due to ongoing prosecutor inquiries, he said. The issue of Décharge for Raiffeisen responsible persons was postponed again.

Pierin Vincenz is prosecuted by the prosecutor of Zurich for possible unfair business activities. He could play a double game and be personally redeemed in his own time as Chief Executive Officer of Raiffeisen in the corporate acquisitions of Aduno credit card company and the investment company Investnet. Vincenz was in custody for weeks in the summer because of the allegations.

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(Dob / SDA)

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