A Geneva-based private bank, Edmond de Rothschild, has launched legal proceedings against one of its former directors. She is accused of chalking up losses of around SFr4 million ($2.3 million).

"A complaint has been lodged," said the bank's lawyer, Dominique Poncet, confirming reports in the Swiss French newspaper the "Tribune de Genève". The inquiry is now in the hands of the legal authorities.

Mourad Sekkiou, the lawyer representing the defendant, whose name was not released, said she would fight the case: "My client is contesting the accusations levelled against her by her ex-employers."

Sekkiou said his client - whom he described as a "brilliant private banker" - had not been responsible for any losses and that she was the victim of an "internal settling of old scores".

swissinfo with agencies

In compliance with the JTI standards

More: SWI swissinfo.ch certified by the Journalism Trust Initiative