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There was no pressure from individual shareholders either.
According to Lacher, Rickenbacher’s resignation was “a mutual decision of himself and the board.” But Lacher’s resignation was also apparently controversial. “The board has openly discussed the issue and explored all options,” he said.
On Thursday, Julius Baer not only wrote off its entire 606 million-franc loan to Austrian investor René Benko’s Signa Group, but also announced that it was withdrawing from the entire “private debt” business. “Here too, no pressure was applied by Finma,” Lacher emphasized. However, there was an intense exchange of views with the financial market supervisory authority.
(SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
