With now the U.S. Justice getting drawn into the widening probe of the Malaysian state fund, the mood at recently acquired BSI Bank in Singapore, itself heavily linked to the investigation, becomes apathetic.
Financial news service Bloomberg has reported on several senior departures across the Asian operations of the Ticino based private bank in recent months. Those who have left include some members of the committee who had been responsible for screening clients.
None of the departed bankers however have been accused of any wrongdoing.
Potential Losses
In another related matter BSI’s Brazilian based parent company, Grupo BTG Pactual, has asked for BSI’s previous owner, Assicurazioni Generali SpA, to be indemnified for potential losses connected to BSI’s dealings with the Malaysian fund.
EFG, the new owner of the beset BSI, has taken their own sizeable precautions to avoid any liabilities in the event of a damaging financial fall out.
