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BSI faces lawsuit from former Asia CEO over bonus

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BSI faces lawsuit from former Asia CEO over bonus

Hanspeter Brunner, BSI SA's former CEO for Asia, is suing the company forallegedly holding his bonus, The BusinessTimes reported July 13, citing a Singapore High Court document.

Brunner claimed in his complaint that there was no legalbasis for the firm to suspend the payment for deferred bonuses due in June,according to the July 4 court filing. He also accused the company of breachingagreements and a separation pact.

The move came as Brunner, along with other bankers, facesscrutiny in Singapore in connection with the company's possible with 1MalaysiaDevelopment Bhd., or 1MDB. Earlier in May, BSI was ordered to its unit in the Asia-Pacific wealthmanagement hub for "gross misconduct" related to money laundering.