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EFG Picks a New Boss
Nobody saw the CEO change at EFG International coming: Joachim «Joe» Straehle stepped down suddenly, and the Swiss private bank named finance chief Giorgio Pradelli to succeed him. Straehle had spent the better part of his two year-long tenure cleaning up the 1MDB scandal and integrating Banca della Italiana Svizzera, or BSI. It falls to Turin native Pradelli to prove that EFG can eke sustainable revenue and profits from its new set-up. Like Blessing at UBS, Pradelli faces industry headwinds and rising competition, as finews.asia detailed last month.
