March 2, 2018 / 10:38 AM / a year ago

Swiss bank Raiffeisen CEO: won't step down over probe of predecessor

ZURICH, March 2 (Reuters) - The head of Switzerland's third-largest bank, Raiffeisen, said on Friday he would not step down in relation to a criminal probe into predecessor Pierin Vincenz. Chief Executive Patrik Gisel worked together with Vincenz for years before taking over the helm in 2015.

Swiss prosecutors are investigating Vincenz on suspicion of breach of trust linked to cashless payments business Aduno and private equity firm Investnet, the Swiss bank said on Wednesday. Vincenz denies wrongdoing but has been forced to resign from business roles. [ (Reporting by Brenna Hughes Neghaiwi; Editing by Michael Shields)

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