April 26, 2016 / 4:56 AM / 2 years ago

BSI Singapore's interim CEO Raj Sriram to leave bank

SINGAPORE, April 26 (Reuters) - Swiss bank BSI said Raj Sriram, the interim CEO of its Singapore unit, would leave the bank and Renato Cohn, member of BSI’s group executive board, would become acting CEO.

“Raj will guarantee a smooth handover to Renato in the upcoming weeks and will leave the bank accordingly,” BSI said in a statement received by Reuters on Tuesday. It said Sriram will take a break from his professional career.

BSI was recently sold by Brazil’s Grupo BTG Pactual SA to EFG International AG. Sriram’s exit follows a March announcement that the head of BSI’s Asia business, Hanspeter Brunner, would retire from the bank. Sriram was then given responsibility of the Singapore business.

BSI’s Singapore unit has been in the spotlight in recent months after one of its bankers came under a criminal probe related to a money laundering investigation linked to Malaysian state fund 1Malaysia Development Berhad (1MDB). (Reporting by Anshuman Daga; Editing by Muralikumar Anantharaman)

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