Hanspeter Brunner, CEO of BSi Bank Asia, has decided to retire, the bank announced on March 8. He will be succeeded by Raj Sriram, head of private banking at BSi Bank Asia.
In 2009, Brunner, along with Sriram and 70 private bankers, including star banker Yak Yew Chee who managed Jho Low’s accounts, left RBS Coutts for BSi.
According to news and court reports, Jho Low opened several multi-million dollar accounts for himself, Aabar PJS Limited and SRC with Yak. Yak, who is on a sabbatical from Bsi, is under investigation for his role in accounts related to 1MDB.
Brunner, 64, is the second notable banker related to 1MDB who has resigned this year.
Elsewhere, Tim Leissner, former chairman of Goldman Sachs’ SE Asia office, resigned last month. On March 8, he was issued a subpoena by the US Department of Justice. Under his watch, Goldman Sachs was lead manager of US$6.5 billion of bonds issued by 1 Malaysia Development Bhd in 2013 for which it was reportedly paid US$500 million ($690 million).
EFG Bank is in the process of acquiring BSi for CHF1.328 million ($1.838 billion) to be paid in cash and shares. Founded in Lugano in 1873, BSi has assets under management of CHF88 billion as at Dec 31 2015. BSI’s global presence includes booking centres in Switzerland, Milan, Paris, Monaco, Luxemburg, Singapore, Hong Kong, Panama, and an office in Bahrain.
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In 2009, Brunner, along with Sriram and 70 private bankers, including star banker Yak Yew Chee who managed Jho Low’s accounts, left RBS Coutts for BSi.
According to news and court reports, Jho Low opened several multi-million dollar accounts for himself, Aabar PJS Limited and SRC with Yak. Yak, who is on a sabbatical from Bsi, is under investigation for his role in accounts related to 1MDB.
Brunner, 64, is the second notable banker related to 1MDB who has resigned this year.
Elsewhere, Tim Leissner, former chairman of Goldman Sachs’ SE Asia office, resigned last month. On March 8, he was issued a subpoena by the US Department of Justice. Under his watch, Goldman Sachs was lead manager of US$6.5 billion of bonds issued by 1 Malaysia Development Bhd in 2013 for which it was reportedly paid US$500 million ($690 million).
EFG Bank is in the process of acquiring BSi for CHF1.328 million ($1.838 billion) to be paid in cash and shares. Founded in Lugano in 1873, BSi has assets under management of CHF88 billion as at Dec 31 2015. BSI’s global presence includes booking centres in Switzerland, Milan, Paris, Monaco, Luxemburg, Singapore, Hong Kong, Panama, and an office in Bahrain.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
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