Swiss private bank EFG International is proposing a veteran manager from UBS for its board of directors. Having already obtained regulatory approval, the nomination comes to a vote at EFG's AGM on April 21.
Philip Lofts is appointed as a new member of EFG International's board of directors, subject to a vote at EFG's annual general meeting (AGM) on April 21, the private bank announced Tuesday.
Lofts succeed Susanne Brandenberger, who has decided not to stand for re-election and replaces Brandenberger as risk committee chairman.
Working With Boris Collardi
Lofts spent over three decades at bank UBS, where he served as chief risk officer from 2008 to 2010 and again from 2012 to 2015. Since 2017, he has served as a non-executive director of UBS's Americas unit, a position he relinquishes on March 31.
Alexander Classen, chairman of the EFG board of directors, thus gathers even more financial industry heavyweights around him. The board includes Boris Collardi, former CEO of Julius Baer and former Pictet shareholder. As finews.com reported, Maria Leistner replaces Steven Jacobs on the board. All other members of the Board of Directors are standing for re-election.
Vast Expertise
In welcoming Lofts to the board, Classen said he brings «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.»
