Manager Of Chemical New York’s Swiss Unit Fired; Five Staffers Resign
NEW YORK (AP) _ The manager of Chemical New York Corp.’s securities subsidiary in Geneva has been fired and five staffers in that office subsequently decided to resign, Chemical said Thursday.
The company issued a statement saying Jean-Claude Birchler, general manager and managing director of its Chemical New York Capital Markets Corp. unit in Geneva, had been given notice.
Chemical gave no reasons for Birchler’s departure, but a source close to the company, who asked not to be named, said Birchler he was fired for business reasons rather than any wrongdoing.
″Most of the staff in Geneva have remained and we will be replacing those individuals who have departed,″ said Barry Linsley, the Chemical group executive in charge of global securities and foreign exchange.
Chemical stated most traders remained at the Geneva office and the subsidiary was maintaining all activities. The company declined to name the staffers who left.
Named to replace Birchler, who had been with the company since August 1984, was Janharm Musters, who will assume the titles of general manager and managing director on an interim basis. Musters has been chief operating officer of Chemical’s merchant bank subsidiary in London, Chemical Bank International Ltd.