Philip Lofts has been chosen as a new member of the Board of Directors of EFG International and EFG Bank.

After acquiring the relevant regulatory approvals, he will be proposed for election to the Board of Directors of EFG International at the next Annual General Meeting (AGM) on April 21, 2023.

Philip Lofts will take over for Susanne Brandenberger, who has decided not to run for re-election to the Board of Directors, as announced on November 1, 2022. Subject to shareholder approval, Lofts will also chair the Risk Committee, which is now chaired by Susanne Brandenberger.

With over four decades of experience, Philip Lofts is a proven risk management expert and a recognised leader in the international banking industry.

He spent nearly 30 years working with UBS Group in a number of executive and management positions, including from 2008 to 2015 as a member of the Group Executive Board.

In 2011, Lofts was named CEO of UBS Americas, and he served as Group Chief Risk Officer from 2008 to 2010 and again from 2012 to 2015.

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Prior to joining the Group Executive Board, Lofts held a number of senior risk management posts in the Investment Bank and at Group and had obtained international expertise from working and living in Europe, Asia, and the US.

Lofts has worked for UBS Group Americas as a Non-Executive Director since 2017, a position he will leave on March 31, 2023.

“We are very pleased to propose Philip Lofts for election as a new member of EFG’s Board of Directors and as the new Chair of the Risk Committee,’’ said Alexander Classen, the Chair of the Board of Directors of EFG International.

‘’Phil has vast expertise in the area of risk management and gained broad international experience in the financial industry in Europe, Asia, and the US. I am convinced that he will be instrumental in further enhancing EFG’s risk framework and in driving and supporting EFG’s growth strategy. Together with my colleagues on the Board of Directors, I very much looking forward to working with him. At the same time, I would like to sincerely thank Susanne Brandenberger for her substantial contribution to EFG’s success and her outstanding commitment during the past few years. I wish her all the best for the future.”