A long-standing independent director of Swiss private bank EFG International will not stand for reelection. This follows a generational handover recently in the wealthy Greek family which controls the firm.
Niccolo Burki will leave EFG International at the Swiss wealth manager's shareholder meeting next month, it said in a statement on Monday. A Swiss lawyer, Burki had sat on EFG's board since 2013 and was its vice-chairman for the last five years.
The bank had in November flagged that Spiro Latsis, its founder, would be retreating this April as well. His son, John Latsis, has sat on EFG's board since 2018.
The younger Latsis will represent the family's interest in the body in future. At EFG's extraordinary investor meeting last autumn, shareholders, voted ex-J. Safra Sarasin Chairman Ilan Hayim onto its board.
