Ex-BSI Asia CEO Sues Bank Over Bonus Amid Prosecutors’ Scrutiny
- Brunner says bank has no legal basis to freeze deferred bonus
- BSI set to lose Singapore license over control lapses
Hanspeter Brunner.
Photographer: Dale de la Rey/BloombergThis article is for subscribers only.
Hanspeter Brunner, BSI SA’s former Asia chief who’s under scrutiny from Singapore prosecutors over the bank’s ties with a Malaysian state firm, has sued the Swiss private bank after his bonus was frozen.
Brunner’s lawsuit alleges that BSI’s Singapore unit breached bonus agreements and a separation pact with him, according to documents filed on July 4 in the Singapore High Court. There is no legal basis for BSI to suspend the payment for deferred bonuses due last month, Brunner said in his complaint.