Material changes between the balance sheet date and the editorial deadline (09.03.2018)
New department and management structure effective 1 January 2018
Raiffeisen Switzerland has tightened its client focus with a new department and management structure. This resulted in personnel changes in the Executive Board, the dissolution of the Extended Executive Board and changes in several department structures.
Marcel Zoller, the long-standing CFO, will retire as at 30 April 2018. His place has already been taken by Dr Christian Poerschke, who took over the reins of the Finance & Human Resources department effective 1 January 2018.
Risk management activities are now bundled in the new Risk & Compliance department, which allow us to satisfy modern corporate governance standards, continue to manage risk adequately and effectively, and comply with regulatory requirements. The new Risk & Compliance department will be headed by Dr Beat Hodel, who previously headed Group Risk Controlling. As the Chief Risk Officer (CRO), he sits on the Executive Board and is responsible for Group-wide risk management and for risk management compliance.
Rolf Olmesdahl will assume the function of Chief Operating Officer (COO).
Dissolution of Group Management Coordination effective 1 January 2018
To adjust the management rhythm, the Executive Board of Raiffeisen Switzerland decided to realign the overall management of its subsidiaries. The realignment will expand the organisation's focus on strategic issues. To support this goal, Raiffeisen Switzerland and its subsidiaries will annually hold a dedicated strategy workshop. The Group Management Coordination Committee, which had a more operational focus, will be dissolved.
Raiffeisen reorganises ownership structure at Investnet (26 February 2018)
Raiffeisen Switzerland and the minority shareholders of Investnet Holding AG have decided to reorganise the ownership structure of the private equity group.
Criminal proceedings against Dr Pierin Vincenz (27 February 2018)
On 27 February 2018, the Zurich III Public Prosecutor's Office notified Raiffeisen Switzerland that it had instituted criminal proceedings against Dr Pierin Vincenz, the former Chairman of the Executive Board of Raiffeisen Switzerland. He has been charged with acting in bad faith in connection with Aduno and Investnet. Raiffeisen Switzerland has joined the proceedings as a private complainant and has additionally filed a criminal complaint against Dr Pierin Vincenz and other potentially involved individuals. However, these actions have no effect on the current annual financial statements.
It is not currently possible to say with certainty whether and to what extent these events will affect the aforementioned plans to reorganise the ownership structure of Investnet.
Raiffeisen Switzerland announces changes in the Board of Directors (8 March 2018)
There has been a change in the leadership of the Board of Directors of Raiffeisen Switzerland. The serving Chairman of the Board of Directors of Raiffeisen Switzerland, Prof. Dr Johannes Rüegg-Stürm, has decided to resign his position effective immediately. Prof. Dr Pascal Gantenbein will serve as the interim Chairman of the Board of Directors of Raiffeisen Switzerland.