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A bouquet of flowers and a nice card were not enough. To abdicate the once most popular banker in the nation, it had to be a 123-page book.
“Dr. Pierin Vincenz: Bergler and Political Banker” is the name of the festschrift, which was published in autumn 2015. In this, the who’s who of Swiss business and politics outshines each other with hymns of praise to the former boss by Raiffeisen.
The prologue was written by none other than the then Minister of the Economy, Johann Schneider-Ammann (68). However, the most euphoric was the Council of States of CVP Pirmin Bischof (61, SO): “What the saints mean for the Catholic Church, Pierin Vincenz is to some extent for the Swiss financial industry.”
The friendly Graubünden
The media, including SonntagsBlick, were also mostly positive about Vincenz and his Raiffeisen. In addition to the big banks and their myriad negative headlines (millions in manager bonuses, billions saved by the federal government, black money scandals), the friendly co-op banker with the friendly Graubünden dialect was a welcome change.
Furthermore, Vincenz has undoubtedly accomplished great things in his nearly 17 years as Raiffeisen’s boss: He made the group the undisputed number three in the country, in the mortgage business even number one.
He was also one of the first in the Swiss financial sector to recognize that business with tax-free money from abroad will have no future.
The Zürcher “Tages-Anzeiger” summed up Vincenz’s departure: “With cunning and courageous decisions, he managed to become the voice that politicians also listen to.” And furthermore: “Unlike the directors of the two large banks, the Graubünden company, as a great exception, managed to maintain an image of a popular figure in the financial center.”
Author of these lines: Lukas Hässig, meanwhile, freelance journalist and operator of the financial portal “Inside Paradeplatz”.
It was Hässig who, with his revelations, assured that another work on Vincenz’s work would be published a few days ago. It should be 356 pages thick, but less flattering. Author: Prosecutor for economic crimes of the Canton of Zurich.
Three months in custody
At the end of October, the prosecution concluded the criminal investigation against Vincenz and his long-term business partner Beat Stocker (60), after almost three years of investigation, including 106 days of pre-trial detention in early summer 2018.
Result: charges for commercial fraud, document falsification and passive bribery. Vincenz and Stocker are said to have personally enriched themselves through various company acquisitions by Raiffeisen and the Aduno credit card company, where they both served on the board of directors.
Individual problems are extremely complex. In essence, however, it is always the same question: Did Vincenz and Stocker unjustifiably charge by sitting on either side of the negotiating table? Did they act as buyers and sellers without disclosing it? And did this cause harm to Raiffeisen and Aduno?
The prosecutor must now try to convince the judges of exactly that. Legal experts agree that it will not be child’s play. An experienced criminal law expert notes: “In case of doubt, the prosecutor should press charges against the accused. The court, on the other hand, must acquit the accused in case of doubt. “
It is not yet clear when the process will begin. But it will definitely be 2021, the court says.
Reputation just ruined …
But regardless of how the court decides one day: Pierin Vincenz has long since lost his good reputation. Because even if your initial investments aren’t criminally relevant – they’re definitely not the best way to do business.
Vincenz has also shed his image of innocence from the country constantly smiling since this week at the latest. The indictment, which is actually still under lock and key, also lists numerous expenses that Vincenz allegedly received to the detriment of Raiffeisen and Aduno.
It is said that 251,000 francs of this went to champagne, cabaret visits and strippers, paid for with the company’s credit card. “Inside Paradeplatz” went public this week. Around twenty relevant establishments are listed throughout Switzerland.
But that is not all. According to the portal, another spicy detail appears in the expense report: the complete repair of Suite 507 at the Park Hyatt Hotel in Zurich for 3778 francs.
There was a heated discussion there on the night of June 11-12, 2014. According to an investigation by BLICK, the following has happened: “Apparently the star banker had a beanbag on his agenda. Because when his queen of hearts suddenly appeared in the room, the banker was already having fun with another lady. The situation got worse. The sources speak of physical violence and furniture that collapsed. “
That really doesn’t fit the simple, unassuming, sympathetic mountain banker.
And it shouldn’t be left out: Vincenz was never a Bündner kid from a small mountain town anyway, even if he liked portraying himself like that. His family comes from the pretty village of 200 inhabitants of Andiast in Surselva. But he grew up not far from the Chur train station.
Otherwise, Vincenz’s biography would never have really adapted to the image of the outsider and climber: his father, who has since passed away, was a member of the Council of States of the Canton of Graubünden, and from 1984 to 1992 he chaired the board of directors of the Swiss Raiffeisenkassen Association. Vincenz himself began his financial career as an investment banker in the United States.
