Serge Meyer to leave BCV

BCV has dismissed Serge Meyer, Head of the Credit Management Division and member of the Executive Board.

In what he himself described as a “serious lapse of judgment,” Serge Meyer used privileged information obtained within the framework of his professional duties to make a private stockmarket transaction. Regretting his action, he subsequently gave the entirety of the profit on the trade to charitable organizations. On his own initiative, he informed the Executive Board of the transaction.

Despite Mr. Meyer's candid avowal and sincere regret and the small amount of money in question, BCV has decided to dismiss Mr. Meyer.

Neither BCV's operations nor any of its clients was affected by the transaction. Management regrets having to dismiss Mr. Meyer, who has always carried out his duties as Chief Credit Officer irreproachably. A transitional structure has been set up to ensure continuity in the business lines concerned.

Lausanne, Switzerland, 19 June 2009

Contact(s)

Christian Jacot-Descombes, Press Officer
Phone +41 79 816 99 30
E-mail

Wilhelm Blaeuer, Investor relations
Phone + 41 21 212 20 71
E-mail

This press release is being issued outside the trading hours of the SIX, Swiss Exchange in order to comply with the principles of ad hoc disclosure pursuant to the SIX listing rules.

The above text is a translation of the original French document; only the French version is authoritative.