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Raiffeisen Bank International AG CEO Quits Over Offshore Deals-Reuters


Friday, 24 May 2013 08:16am EDT 

Reuters reported that Raiffeisen Bank International's Chief Executive Officer Herbert Stepic resigned on Friday in what he called an effort to spare his bank from negative publicity over personal property deals that triggered scrutiny by the lender and regulators. Stepic, 66, again denied wrongdoing in using front companies in the Caribbean and Asia to buy flats in Singapore in 2006 and 2008 - deals exposed by the Offshore Leaks investigative journalism project - but said he decided to quit out of loyalty to Raiffeisen. 

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