Swiss Banking's Hot Spots in 2018
9. Raiffeisen Still On The Hook
Finma set aside its fitness and probity investigation of Swiss banker Pierin Vincenz (pictured above) in December – the former Raiffeisen boss had escaped the regulator's remit by stepping down hurriedly from his last financial job. The regulator has been investigating whether Vincenz blurred the line with personal investments that Raiffeisen had also been party to. Ironically, Raiffeisen is still on the hook with Finma over its corporate governance.
Vincenz's legacy will keep Raiffeisen's more than 200 cooperative banks busy: an IT migration project called «Rainbow» under a specially-founded firm, Arizon, is set to be rolled out this month. The Swiss banker's efforts to branch out into wealth and asset management by purchasing remnants of the collapsed Wegelin & Cie in five years ago also faces questions – can the successor bank, Notenstein La Roche, succeed on its own, could it be integrated into the retail bank, or even sold to a third party?
