riskregulation,retail,Risk and Regulation,

riskregulation,retail,Risk and Regulation,

Zurich -- EFG International today announces appointments to the Executive Committee and a new management structure for the combined EFG and BSI business, which will become effective as of the date of the closing of the transaction. In addition, EFG International today announces that an Extraordinary General Meeting will be held on 26 July 2016 in connection with the previously announced financing structure of the transaction.

Effective as of the closing, expected in the fourth quarter 2016, the composition of EFG International’s Executive Committee will be as follows:

Joachim H. Straehle, Chief Executive Officer
Giorgio Pradelli, Deputy Chief Executive Officer & Chief Financial Officer
Mark Bagnall, Head of IT & Operations
Albert Chiu, Head of Asia Region
Renato Cohn, Head of Investment Solutions
Anthony Cooke-Yarborough, Head of UK Region
Peter Fischer, Head of Strategy
Reto Kunz, Chief Risk Officer
Adrian Kyriazi, Head of Romandie & Continental Europe Region
Maurizio Moranzoni, Head of Global Markets
Gérald Robert, Head of Latin America
Renato Santi, Head of Central Switzerland, Ticino & Italy Region
Sixto Campano, Head of Americas Region; attendee of the Executive Committee

The Board of Directors of EFG International has appointed five members of BSI’s Group Executive Board as members of EFG International’s Executive Committee, effective as of the closing: Renato Cohn, Reto Kunz, Maurizio Moranzoni, Gérald Robert and Renato Santi. In their respective roles as members of EFG International’s Executive Committee, Renato Cohn, Maurizio Moranzoni and Renato Santi will be based in Lugano; Gérald Robert in Geneva. James T.H. Lee will step down from the Executive Committee of EFG International as of the closing and will retire from the company at a later point of time. Frederick Link will step down from the Executive Committee of EFG International as of the closing; he will remain in his role as EFG Bank’s Chief Risk Officer during a transitional phase and will continue in the organization in a senior role.

Post-closing, BSI will operate as a separate subsidiary within EFG International’s holding structure until its full integration, which will take place market by market and is planned for completion by mid-2017. In the interim period between closing and integration, BSI will continue to work under its current organizational structures.

Joachim H. Straehle, CEO of EFG International: “I take the opportunity to thank Jim Lee for his significant contribution to EFG International over the past 15 years with his leadership and investment knowledge, and we wish him all the best in his future endeavours. EFG International’s future management structure reflects both the strong Swiss roots and the global reach of the combined business. I am very much looking forward to working with our future executive team, combining leadership and expertise of both EFG and BSI.”

Re-disseminated by The Asian Banker