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Cornèr Banca CEO to be succeeded by son

The CEO of Swiss lender Cornèr Banca SA will step down and be replaced by hisson.

Paolo Cornaro, son of the founder of Cornèr Banca, will stepdown as CEO on Sept. 30, handing over to his son, Vittorio Cornaro. PaoloCornaro will become chairman of the board of directors, replacing GiancarloViscardi, who has served in the role since 1992.

Cornèr Banca noted that as of Oct. 1, its executive boardwill comprise Vittorio Cornaro and executive vice presidents Alessandro Seralvoand Christian Torriani.

Vittorio Cornaro has served as an executive vice presidentsince 2008, while Paolo Cornaro had been CEO since 1980.