Hans-Rudolf Strickler, a board member of Swiss Life, the scandal ridden insurance group, has resigned, just two days after the firm launched its Sfr1.1bn (€750m) capital raising programme.

Stricklers's resignation follows close on the heels of departed chief executive Roland Chlapowski, as the firm tries to restore investors' confidence. Earlier this week, the firm announced terms for its Sfr200m mandatory convertible bond and its Sfr856m equity rights issue. Its launch had been delayed because new chief Rolf Dörig wanted to "personally ensure the highest achievable level of transparency and information is offered to our shareholders and investors".