EFG International is today announcing that Patrick Ramsey has been appointed as new Head of Continental Europe & Middle East Region and member of the Global Business Committee, effective January 2021. In this role, he will succeed Adrian Kyriazi, who has decided to step down as of year-end.
EFG International today published the invitation to its Extraordinary General Meeting (EGM) on 08 December 2020, where shareholders will vote on the distribution of the second tranche of the 2019 dividend of CHF 0.15 per share. EFG today also provides an update on its financial performance and announces changes to its Board of Directors. Spiro J. Latsis has decided not to stand for re-election to the Board of Directors at the next Annual General Meeting in April 2021. As part of the long-term succession planning, John S. Latsis will take over the role as principal representative of the majority shareholder. In addition, Ilan Hayim is nominated as a new member of the Board for election at the EGM.
In the context of a former BSI’s legacy case regarding the 1MDB matter, predating the acquisition
of BSI by EFG International in 2016, EFG takes note of FINMA’s decision to reset the profit
disgorgement from CHF 95 million to CHF 70 million. EFG’s financial results will not be impacted.
EFG International is today announcing that it has agreed to transfer its Ticino-based retail business lines, with around CHF 1.2 billion of client assets, to Banca dello Stato del Cantone Ticino (BancaStato). The two parties are also committed to exploring further areas of collaboration in Ticino in the future.
In the first half of 2020, EFG successfully demonstrated its operational and financial resilience and achieved profitable growth while executing its 2022 strategic plan, against the backdrop of the coronavirus pandemic (COVID-19).
At today’s Annual General Meeting, EFG International’s shareholders approved all proposals made by the Board of Directors, including the election of Peter A. Fanconi as new Chair of the Board of Directors, the management report, the financial statements and the consolidated financial statements for the financial year 2019.
In the context of its Annual General Meeting, which is held today without any public attendance, EFG International provides an update on its business performance and announces that Martin Freiermuth has been appointed Chief Operating Officer and a member of the Executive Committee, effective mid-August 2020.