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June 11, 2018

EFG to revamp management structure

Swiss private bank EFG International has trimmed the size of its executive committee to six members from 13 earlier as part of a realignment of its governance structure.

The new executive committee will include CEO Giorgio Pradelli, deputy CEO and head of investment solutions Renato Cohn, group chief compliance officer Vittorio Ferrario, COO Christian Flemming, chief risk officer Thomas Mueller, and CFO Dimitris Politis.

At the same time, the bank also announced the formation of a new global business committee.

The business committee will consist of 13 members, including the executive committee members.

Other members of this committee include Asia head Albert Chiu, UK head Anthony Cooke-Yarborough, Latin America head Marcelo Coscarelli, Continental Europe head Adrian Kyriazi, head of markets Maurizio Moranzoni, head of Switzerland and Italy Franco Polloni, and chief technology officer Mark Bagnall.

Meanwhile, EFG also announced plans to combine its Swiss business under the sole leadership of Polloni. The business is currently split between two units. All the changes will be effective from 1 July 2018.

“After the successful and timely integration of BSI into EFG, our stated priority in 2018 is to optimise the organisation and drive forward the combined business to deliver sustainable growth. The realignment of our executive leadership teams is part of this process, and I am convinced that this more focused management structure will support us in reaching our strategic targets,” Pradelli noted.

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