Prosecutors in Munich searched BayernLB’s offices on Wednesday as they probed the conduct of a former chief executive of Germany’s second-biggest Landesbank. The raids were part of “extensive investigations” into BayernLB’s former chief executive in connection with the bank’s purchase of a majority stake in Hypo Group Alpe Adria, the Austrian bank, in 2007, prosecutors said. Werner Schmidt was not named on Wednesday, but was BayernLB’s CEO at the time of the deal.

This entry was posted by Gwen Robinson on Thursday, October 15th, 2009 at 4:41 and is filed under Capital markets, People. Tagged with BayernLB, Hypo Group Alpe Adria. Edit this entry.