Mr Eric Favre

Eric Favre

Updates

Banking & Financial Services

Execution-only relationship – transactions without mandate and calculation of damages
Switzerland | 21 July 2020

A recent Supreme Court decision concerned a case in which a relationship manager with a Swiss bank left said bank without the relevant bank's client being informed. The relationship manager continued to act on the client's behalf and gave investment orders to the bank, which the bank followed. The bulk of the court's decision discussed how the relevant damages suffered by the client must be alleged, contested and determined.