Swiss bank Raiffeisen has elected Guy Lachappelle as its new chairman at its extraordinary general meeting held at Brugg-Windisch.

Delegates also voted in Karin Valenzano Rossi, Andrej Golob, Thomas Müller and Beat Schwab as the new board members of the bank.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Lachappelle, the former chief executive of Basler Kantonalbank, was elected by a clear majority by the company delegates.

The appointment of the new president is a part of the series of measures taken by this scandal-hit banking entity to strengthen its services.

Lachappelle predecessor Johannes Rüegg-Stürm resigned from his post in March following the launch of an investigation on alleged frauds committed by the company’s former CEO Pierin Vincenz.

In an investigation, financial market supervisor FINMA found ‘serious shortcomings’ at the bank. The regulator also noted that the bank failed to monitor Vincenz. It said the bank’s directors had “at least potentially” enabled Vincenz “to generate personal financial gain at the bank’s expense”.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The newly appointed president Lachappelle will also have the responsibility to appoint a new CEO of the company after the current chief executive Patrik Gisel resigned from his post last week.

Gisel was scheduled to continue in his current position until the end of this year.

Following his immediate resignation, Michael Auer has assumed the responsibility on a temporary basis till the company finds the new CEO.