Panama Papers furor claims first bank CEO
The Panama Papers scandal claimed its first banking chief executive Thursday with the resignation of Michael Grahammer, the CEO of Austrian lender Hypo Landesbank Vorarlberg.
Hypo Landesbank Vorarlberg was one of the institutions named in the 11.5 million leaked documents published this week, according to ORF, an Austrian broadcaster.
Grahammer said in a brief statement he was "100% convinced that the bank broke no laws or violated sanctions" agreements, but that he was stepping down because of the media's inaccurate portrayal of the case. Grahammer became CEO in 2012.
