November 6, 2017 / 7:32 AM / 14 days ago

Raiffeisen sets up new compliance department, CFO to step down

ZURICH, Nov 6 (Reuters) - Switzerland’s Raiffeisen is establishing a new risk and compliance department and said on Monday finance chief Marcel Zoller will leave the cooperative banking group next year.

It comes a day after its former CEO, Pierin Vincenz, said Switzerland’s financial watchdog FINMA had opened an investigation against him related to his handling of conflicts of interest while with Raiffeisen. Vincenz also said FINMA was investigating Raiffeisen.

Raiffeisen, Switzerland’s third-biggest bank, said Chief Financial Officer Zoller will be replaced on Jan. 1 by Christian Poerschke, currently head of its services department. ‍​ (Reporting by Joshua Franklin, editing by John Miller)

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