June 11, 2018 / 5:19 AM / a month ago

Swiss private bank EFG overhauls management structure

ZURICH, June 11 (Reuters) - Swiss private bank EFG International said it has more than halved the size of its executive committee to six members from 13 previously.

The company said it would also set up a new global business committee with 13 members, including the heads of its regions.

EFG’s business in Switzerland, its largest market, is currently divided between two units that will be combined in the overhaul effective from July 1.

“This streamlined governance set-up will facilitate a more focused and responsive approach to the attainment of the organisation’s goals, including the key mandate of working with the regional business heads to grow and develop the business,” the bank said in a statement. (Reporting by John Revill)

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