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Swiss private bank EFG International shakes up management structure

EFG International AG has trimmed its executive committee to six members.

The new executive committee comprises CEO Giorgio Pradelli, deputy CEO and investment solutions head Renato Cohn, group chief compliance officer Vittorio Ferrario, COO Christian Flemming; chief risk officer Thomas Mueller and CFO Dimitris Politis.

The Swiss private lender will also set up a global business committee, which will be composed of the six executive committee members plus Chief Technology Officer Mark Bagnall, head of Asia Albert Chiu, head of U.K. Anthony Cooke-Yarborough, head of Latin America Marcelo Coscarelli, head of continental Europe Adrian Kyriazi, global markets head Maurizio Moranzoni and head of Switzerland and Italy Franco Polloni.

EFG's two Swiss business units will be also merged. The combined unit will be led by Polloni. Kyriazi, meanwhile, will oversee the bank's operations in the Middle East and eastern Mediterranean, in addition to his responsibility over continental Europe.

All of the changes will take effect July 1.

Bermuda-based Private Financial Holdings Ltd. is the parent company of EFG International.