Ex-BSI Asia CEO Brunner settles Singapore bonus suit with bank

Hanspeter Brunner, BSI SA's former Asia chief who was referred to Swiss and Singapore regulators over the bank's ties with a Malaysian state firm, has settled a lawsuit seeking deferred payments, according to the bank's lawyer.

Mr Brunner's lawsuit alleged that BSI's Singapore unit breached bonus agreements and a separation pact without any legal basis. Mr Brunner, 64, was among six BSI bankers referred by Singapore's central bank to prosecutors over lapses in dealing with 1Malaysia Development Bhd (1MDB).

He's also one of two former BSI executives the Swiss financial regulator has started proceedings against. Mr Brunner's retirement was announced in March.

"Hanspeter Brunner has withdrawn his claim against the bank in its entirety," Muralli Rajaram, a Singapore-based lawyer for BSI, said Thursday by phone, confirming the settlement.Click Here To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