EFG announces the nomination of Philip Lofts as a new member of the Board of Directors

28 March 2023

The Board of Directors of EFG International and EFG Bank is today announcing the nomination of Philip Lofts as a new member of the Board of Directors. Having obtained the relevant regulatory approvals, he will be proposed for election to the Board of Directors of EFG International at the forthcoming Annual General Meeting (AGM) on 21 April 2023.

Philip Lofts will succeed Susanne Brandenberger, who has decided not to stand for re-election as a member of the Board of Directors, as announced on 01 November 2022. Subject to his election by shareholders, Philip Lofts will also chair the Risk Committee, of which Susanne Brandenberger is currently Chair.

Philip Lofts is a proven risk management expert and a recognised leader in the international banking industry with more than four decades of experience. He spent over 30 years at UBS Group in a variety of executive and management roles including being a member of the Group Executive Board from 2008 to 2015. He served as the Group Chief Risk Officer from 2008-2010 and 2012-2015 and as the CEO of the UBS Americas in 2011. Prior to joining the Group Executive Board he held a number of senior risk management roles in the Investment Bank and at Group and had gained international experience from working and living in Europe, Asia and the US. Since 2017, he has served as a Non-Executive Director of UBS Group Americas, a position that he will be stepping down from on 31 March 2023.

Alexander Classen, Chair of the Board of Directors of EFG International: “We are very pleased to propose Philip Lofts for election as a new member of EFG’s Board of Directors and as the new Chair of the Risk Committee. Phil has 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. Together with my colleagues on the Board of Directors, I very much looking forward to working with him. At the same time, I would like to sincerely thank Susanne Brandenberger for her substantial contribution to EFG’s success and her outstanding commitment during the past few years. I wish her all the best for the future.”

Source: EFG International