EFG nominates new Chair and additional new Member of the Board of Directors
The Board of Directors of EFG International and EFG Bank have announced the nomination of Peter Fanconi as its new Chair and of Amy Yip as a new member of the Board of Directors, subject to the approval of shareholders.
EFG’s shareholders will consider the nomination during the firm’s Annual General Meeting (AGM) in April 2020. The nomination for a new chair has come following the revelation that John Williamson, EFG’s current Chair of the Board, has decided not to stand for re-election at the firm’s next AGM.
Williamson is stepping down from after 18 years at EFG, having previously served as CEO of EFG International from 2011 to 2015 and as Vice-Chair and later Chair of the Board. He will continue to support the Group as a strategic advisor in the future.
Peter Fanconi has been described as a proven specialist and entrepreneur in the field of financial services in a press release by EFG. He has extensive industry experience, having worked for renowned organisations in numerous executive positions for more than 20 years. He has held a number of Board positions with global industry players and currently serves as Chairman of the Supervisory Board of both BlueOrchard Finance and Graubündner Kantonalbank. In addition, he was a member of the Board of Deutsche Bank (Switzerland) AG, a position from which he stepped down at the end of October 2019.
Furthermore, from 2013 to 2015, Fanconi held the position of Chief Executive Officer of BlueOrchard Finance. He served as CEO of Private Banking at Bank Vontobel from 2009 to 2012 and as CEO of Harcourt Investment Consulting from 2003 to 2009. Prior to that, he was a Managing Partner within the Corporate Finance division of PricewaterhouseCoopers in Switzerland.
Amy Yip was recently appointed as the new Chair of EFG’s Asia Pacific Advisory Board in order to help drive and oversee the expansion of EFG’s business in Asia Pacific. She boasts a deep understanding of the Asian private banking industry; she has held a number of managerial and advisory roles at global leading financial institutions during her distinguished career and is currently a member of the Board of Directors of Fidelity International, Deutsche Börse, Temenos and Prudential PLC. Since 2011, Amy Yip has also been a founding partner of RAYS Capital Partners. Additionally, Yip previously served as CEO of DBS Bank in Hong Kong after working as Executive Director of Reserves Management at the Hong Kong Monetary Authority.
Williamson commented that “On behalf of the Board of Directors, I am very pleased to propose Peter Fanconi as my successor. I am convinced that Peter possesses all the necessary qualities and experience to play a pivotal role in helping EFG to realise its growth ambitions. Equally, we are very pleased to nominate Amy Yip as a new member of the Board. With her outstanding regional and international experience, she will be a valuable addition to the Board. It is a testimony to EFG’s distinctive and differentiated business model, as well as the scale of opportunity it represents, that we have two high-calibre professionals like Peter and Amy joining our Board of Directors.”
Falconi added that “I am honoured that the Board of Directors is placing its trust in me and proposing me for election as its new Chair. This is an exciting opportunity and I look forward to working closely with the other members of the Board and EFG’s management to drive the Group’s strategy forward and achieve EFG’s ambitions of sustainable and profitable growth.”
“Having joined EFG as its new Chair of the Asia Pacific Advisory Board in August, I now look forward to taking on a further role as a member of the Board of Directors. In my dual function, I will focus on exploring new business opportunities for EFG in the Asia Pacific Region in particular as well as globally,” Yip further added.