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EFG International CEO to retire

EFG International AG said CEO Joachim Straehle will retire at 2017-end, when the full integration of BSI SA into the company is expected to be completed.

Deputy CEO and CFO Giorgio Pradelli will succeed Straehle, effective Jan. 1, 2018. Pradelli, who has been CFO since 2012 and deputy CEO since 2014, will also become CEO of EFG Bank AG.

Meanwhile, Dimitris Politis will take over from Pradelli as CFO and Renato Cohn will become deputy CEO, also effective at the start of 2018. Politis is currently CFO of SETE SA while Cohn is currently EFG International's head of investment solutions and will retain his existing responsibilities.

EFG International acquired BSI from BTG Pactual Group in 2016 for CHF1.06 billion. It concluded the platform migration of the former BSI businesses in Geneva and Zurich into the groupwide IT system and expects to complete the full integration process with the system migration of the former BSI business in Lugano before 2017-end.