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Eastern Switzerland's financial institutions are facing significant challenges, particularly Raiffeisen, which is grappling with IT issues and customer dissatisfaction. CEO Heinz Huber will step down at the end of the year amid a 500 million franc debacle, yet he will take on the role of Chairman at Graubündner Kantonalbank in July 2025. The region's banking sector continues to be marred by scandals and governance concerns, raising questions about the accountability of its leaders.
Heinz Huber will step down as CEO of Raiffeisen Zurich at the end of the year to become Chairman of Graubünden Kantonalbank in July 2025. Christian Poerschke, currently Vice-Chairman, will serve as interim CEO. Huber, who has led Raiffeisen since January 2019, successfully navigated the bank's recovery following significant losses in 2018.
Huber has been elected as the new Chairman of GKB, effective from July 1, 2025, to June 30, 2029, following his tenure as Chairman of the Executive Board of Raiffeisen Switzerland since 2019. He replaces Peter Fanconi, who will step down early amid scrutiny over GKB's lending practices but will remain in his role until June 2025 to ensure a smooth transition.
Heinz Huber will step down as CEO of Raiffeisen at the end of the year to become Chairman of Graubünden Kantonalbank in July 2025. Huber, who has led Raiffeisen since January 2019, is credited with restoring the bank's growth after a challenging period marked by significant losses. Christian Poerschke will serve as interim CEO during the transition.
Heinz Huber will step down as CEO of Raiffeisen Switzerland at the end of 2024 after nearly six years in the role. He will transition to become Chairman of Graubündner Kantonalbank in July 2025, with Christian Poerschke serving as interim CEO starting January 1, 2025. Under Huber's leadership, Raiffeisen Switzerland saw significant growth, with a 15% increase in income to 4.1 billion Swiss francs and a 17.7% rise in profit to 1.39 billion Swiss francs last year.
Heinz Huber, CEO of Raiffeisen Switzerland, will resign unexpectedly to become Chairman of Graubündner Kantonalbank (GKB) in July 2025. Christian Poerschke will serve as interim CEO starting January 1, 2025, as the bank seeks both internal and external successors. Huber's tenure at Raiffeisen saw significant growth despite challenges, including a scandal that impacted the bank's reputation.
Raiffeisen banking group faces significant risks due to its Russian operations and loans to René Benko's SIGNA, with potential total losses threatening its stability. The European Central Bank is closely monitoring the situation, fearing a chain reaction that could impact regional banks. Sanctions from the US and the possibility of Russian nationalization further complicate the bank's future, as it struggles to transfer trapped profits from its Russian subsidiary.
Parliament is currently debating the 2025 budget, with CHF 86 billion in planned expenditures, including increased funding for the army. In sports, Mikaela Shiffrin faces an uncertain return after a serious injury, while René Benko has an arrest warrant issued in Italy for real estate fraud. South Korean President Yoon Suk-yeol has declared martial law amid political tensions.
René Benko, the founder of Signa, faces an arrest warrant issued by the public prosecutor's office in Trento, Italy, amid a sweeping investigation into corruption and illegal party financing. He is among over seventy suspects linked to fraudulent real estate transactions, including unlawful building permits. A close associate of Benko and the mayor of Riva del Garda have already been placed under house arrest.
Matthias Ackeret's new novel, "Der Magier von Hiva Oa," draws inspiration from the life of fallen real estate developer René Benko, featuring a protagonist named Remo Blanko. Ackeret explores Benko's extraordinary rise and subsequent downfall, questioning the legal implications of his actions while expressing a desire to understand Benko's mindset during his empire's collapse. Despite sending a letter to Benko, Ackeret has yet to receive a response.
René Benko
People
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