Published by WealthBriefingAsia – 24th April 2015
The Zurich-listed private banking firm that operates in various regions including Asia has confirmed a series of top-level proposed executive moves.
EFG International yesterday confirmed that it has appointed Joachim Straehle as its new chief executive, who takes the helm from John Williamson, who will become vice chairman and will be proposed as chairman at next year’s annual general meeting.
Niccolò Burki will be proposed as the new chairman for the coming year at today’s AGM, the Switzerland-listed private bank said in a statement.
At the time of its annual results, EFG International announced that Straehle would be proposed as the new chairman, taking over from Jean Pierre Cuoni, subject to approval. However, it has been decided that now would be an appropriate time to introduce a fresh perspective, while preserving an important element of continuity. This has been prompted by John Williamson indicating a desire to relinquish his duties as CEO, EFG International said.
Cuoni, as previously reported here, won a lifetime achievement award from the publisher of this news service at the annual Swiss awards event in Geneva to celebrate decades of dedicated service in the wealth management sector.
When he took over as CEO in June 2011, Williamson made it clear that he envisaged performing this role for a limited period, until the business was turned around and restored to a path of controlled profitable growth, the firm said, adding that this goal has been achieved.
By assuming the role of vice chairman (and to be proposed as chairman in 2016, after an appropriate ‘cooling off’ period), he will be “uniquely placed” to work with the new CEO, the firm continued.
Straehle was CEO at Bank Sarasin & Co from 2006 to 2013. Prior to this, he was head of international private banking at Credit Suisse from 2002 to 2006. Other senior roles at Credit Suisse, where he spent more than 20 years in total, included regional private banking head for the Middle East, Asia and Russia.
Burki was appointed a member of the Board of Directors of EFG International AG effective 26 April 2013. He founded Burki Attorneys-at-Law in 1997, having previously been a partner at Bär & Karrer in Zurich (1985–1997) and before that a tax lawyer with Arthur Andersen in Zurich (1980–1985).
Please visit WealthBriefingAsia for more news
