Ex-BSI Asia CEO Brunner Settles Singapore Bonus Suit With Bank
- BSI lawyer says ‘good sense’ prevailed, terms not disclosed
- Brunner had agreed to retire from bank earlier this year
Hanspeter Brunner.
Photographer: Dale de la Rey/BloombergThis article is for subscribers only.
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.
Brunner’s lawsuit alleged that BSI’s Singapore unit breached bonus agreements and a separation pact without any legal basis. Brunner, 64, was among six BSI bankers referred by Singapore’s central bank to prosecutors over lapses in dealing with 1Malaysia Development Bhd. He’s also one of two former BSI executives the Swiss financial regulator has started proceedings against. Brunner’s retirement was announced in March.