Swiss Bank Chairman Resigns after Arrest in France

Christopher Owen

6 December 2007

Francois Rouge, chairman of Geneva-based Banque de Patrimoines Privés, has resigned following his arrest by French police on money-laundering charges. Mr Rouge is understood to have been questioned by French police in Marseilles concerning investments in a gambling club and restaurants in Paris and Aix-en-Provence with alleged links to French organised crime. He was placed under arrest on Saturday. Mr Rouge has resigned all his positions with BPP. The bank said in a statement that it has appointed Geneva-based lawyer Claude Brechbuehl, an existing director, to replace him as chairman. It also said that the police investigation concerned "purely personal'' investments by Mr Rouge. BPP was set up as an asset manager in 1980 and has assets under management of SFr2 billion . According to Swiss Web site 24heures, Mr Rouge is understood to have invested €6 million through a Genevan company called Sextius. Lawyer Bénédict Fontanet, a vice-president of Sextius, said the company had invested “completely legally” in three public establishments in France.