EFG announces the nomination of Richard Metcalf as Chair of the UK Board

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EFG Private Bank Ltd, the London-based subsidiary of EFG International AG, is today announcing the nomination of Richard Metcalf as the new Chair of the UK Board, effective 01 June 2024 and subject to regulatory approval. He will succeed John Reed, who is retiring after nine years in this role.

Richard Metcalf spent a large part of his executive career at UBS in a variety of risk roles based in the UK, Asia, US, and Switzerland. He focused on market and operational risk and held senior positions, including serving as Group Risk Chief Operating Officer and EMEA and UK Chief Risk Officer. After leaving UBS, Richard Metcalf worked at Standard Chartered Bank as Group Head of Operational Risk. For the past three years he served as an Independent Non-Executive Director at Credit Suisse (UK) Ltd, where he chaired the Risk Committee of the Board of Directors.

Alexander Classen, Chair of the Board of Directors of EFG International:
“Richard gained an outstanding reputation during his time at UBS and Credit Suisse. His skills complement those of the existing UK Board and I am convinced that he will play a key role in ensuring the sound development of EFG’s business in one of our key markets, where we have ambitious growth plans. I would also like to express my sincere thanks to John Reed, our outgoing Chair, for his dedication to the company over the past nine years. He was instrumental in building our solid risk and governance frameworks and in reinforcing our culture. I wish him all the very best for the future.”

Giorgio Pradelli, CEO of EFG International:
“I am looking forward to working with Richard. He will play a key role in further growing our UK business, for which we have great ambitions. I would also like to sincerely thank John Reed for his strong commitment to our UK Bank over the past nine years and wish him every success for the future.”

Richard Metcalf, designated Chair of the UK Board of EFG Private Bank Ltd:
“I am honoured to have been nominated to take on this important role. I very much look forward to a close and successful collaboration with my fellow members of the Board.”

EFG International AG

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This document has been prepared by EFG International AG (“EFG”) solely for use by you for general information only and does not contain and is not to be taken as containing any securities advice, recommendation, offer or invitation to subscribe for, purchase or redeem any securities regarding EFG.

This release contains specific forward-looking statements that reflect EFG’s intentions, beliefs or current expectations and projections about EFG’s future results of operations, financial condition, liquidity, performance, prospects, strategies, opportunities and the industries in which it operates. Forward-looking statements involve all matters that are not historical facts. EFG has tried to identify those forward-looking statements by using the words “may”, “will”, “would”, “should”, “expect”, “intend”, “estimate”, “anticipate”, “project”, “believe”, “seek”, “plan”, “predict”, “continue” and similar expressions. Such statements are made on the basis of assumptions and expectations which, although EFG believes them to be reasonable at this time, may prove to be erroneous.

These forward-looking statements are subject to risks, uncertainties and assumptions and other factors that could cause EFG’s actual results of operations, financial condition, liquidity, performance, prospects or opportunities, as well as those of the markets it serves or intends to serve, to differ materially from those expressed in, or suggested by, these forward-looking statements. Important factors that could cause those differences include, but are not limited to: changing business or other market conditions, legislative, fiscal and regulatory developments, general economic conditions in Switzerland, the European Union and elsewhere, and EFG’s ability to respond to trends in the financial services industry. Additional factors could cause actual results, performance or achievements to differ materially. In view of these uncertainties, readers are cautioned not to place undue reliance on these forward-looking statements. EFG and its subsidiaries, and their directors, officers, employees and advisors expressly disclaim any obligation or undertaking to release any update of or revisions to any forward-looking statements in this media release and any change in EFG’s expectations or any change in events, conditions or circumstances on which these forward-looking statements are based, except as required by applicable law or regulation.

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