In March, current Raiffeisen head Patrik Gisel stressed it would be better if previous legal chief Nadja Ceregato (click here to read finews.com's profile of her) didn’t return to the scandal-tarnished bank at the end of her sabbatical.

Raiffeisen has now decided to replace Ceregato with Roland Luchsinger (pictured above), the bank confirmed to «Handelszeitung» (in German). The 41-year-old lawyer, who joins from Zuercher Kantonalbank, where he headed the financial crime compliance unit, will join Raiffeisen in July.

Luchsinger, who also headed ZKB’s money laundering operation, will report to Beat Hodel, who was hastily installed as Raiffeisen’s risk and compliance late last year as the scandal mushroomed.