The newly formed alliance between EFG International and BSI Bank appears to have claimed its first high profile victim.
The CEO of BSI Asia and Member of the BSI Group Executive Board, Hanspeter Brunner has decided to retire.
A BSI spokesman confirmed an internal memo which said «After having spent more than 45 years in the finance industry Hanspeter Brunner CEO BSI Asia has decided to retire and is leaving BSI.»
Ambitions Quashed
Brunner left Coutts for BSI in Singapore in 2009 pulling out dozens of private bankers from his former employer in both Singapore and Hong Kong hoping to make BSI a major player in Asian wealth management. However the early momentum did not continue.
Most recently the shadow of the Malaysian sovereign wealth fund scandal has been cast over the Lugano headquartered bank with a banker from BSI, Yak Yew Chee, being named in High Court proceedings in Singapore.
In the immediate term Raj Sriram who moved with Brunner from Coutts will take over the position from the departing CEO.
finews.ch first reported this news on Monday evening.
