The Swiss Stock Exchange launched a probe into the possibility Adecco had released market-sensitive information as its stocks plummeted in the wake of revelations of ‘material weakness in internal controls’ in its North American operation.
Ironically, the firm has faced intense media criticism for remaining tight-lipped during the scare over its accounts.
The investigation is understood to centre on briefings given by Felix Weber, the company’s chief financial offer, to favoured investors, analysts and clients. He also gave an interview to the New York Times, in which he downplayed the severity of Adecco’s problems. Weber later left the troubled employment agency.
In a statement, the company said it would cooperate fully with the Swiss investigation – but reserved public comment until the inquiry was concluded.
Harrison Beale & Owen will (HB&O) have a new chairman and managing director at the helm for 2017
Satvir Bungar promoted to managing director in the mergers and acquisitions team
Carolyn Brown appointed as the first head of client legal services practice RSM Legal
UK senior partner Phil Verity has been elected for a second term at Mazars