The Zurich-based business has announced a number of boardroom and C-suite changes.

EFG International has hired a new head of its legal and compliance operations, choosing a different person from the original candidate who will be taking on a strategic role on its board. The Switzerland-based firm also made a number of other leadership changes.

Vassiliki Dimitrakopoulou is the new global head of legal and compliance – subject to approval from the Swiss financial regulator, the Swiss Financial Market Supervisory Authority. Dimitrakopoulou has performed this role on an interim basis since April 2022, EFG said in a statement yesterday. 

The appointment is taking place because Maria Leistner, who was due to take his post on 1 November, has been tasked with focusing on a “more strategic role” as a board member, the firm said. She will be proposed for election to the board of directors of EFG international at the next AGM, when she will succeed Steven Jacobs, who will not be standing for re-election. 

Ioanna Archimandriti, global head of human resources, has been appointed as a member of EFG’s global business committee, effective 1 November. Archimandriti, who is based in Geneva, reports to CEO Giorgio Pradelli. Before joining EFG, Archimandriti spent 17 years at Eurobank, Greece, as head of transformation as welll as serving in various other senior strategy and governance roles. Prior to that, she worked as an investment banker at Brean Murray & Co in New York for six years. She holds a law degree from the University of Athens, an LLM in corporate law from New York University and an MBA from Athens University of Economics and Business. 

Tribute
EFG paid tribute to Jacobs, thanking him for contributing “significantly to the strategic development and growth of EFG over the past six years,” and helping it to transform after its purchase of BSI. 

Separately, the group said that Susanne Brandenberger has decided not to stand for re-election at next year’s AGM. Her successor will be announced in due course. Among her roles, Brandenberger chaired the firm’s risk committee.

Leistner’s background
EFG said that Leistner is experienced in the legal and compliance aspects of the financial industry. Most recently, she served as group chief legal officer and a member of the executive board of Quintet Private Bank, Luxembourg, where she oversaw the compliance, legal and data protection functions. Between 2016 and 2019, she held senior legal positions at UBS in Zurich, as well as previously spending over 10 years at Credit Suisse. Leistner is a qualified solicitor in England and Wales and an attorney in New York, haviung practised in major English and American law firms before entering the banking industry.

“We are pleased to propose Maria Leistner for election to EFG’s board of directors at the next AGM. With her vast experience and proven track record in the financial industry, she will be a great asset to the board and [will] further drive and support EFG’s growth strategy,” Alexander Classen, chair of EFG’s board of directors, said.

“The board would like to sincerely thank Susanne Brandenberger and Steve Jacobs for their substantial contribution to EFG’s successful development and growth and for their outstanding commitment during their respective tenures. They both played an important role in transforming the bank and in defining and implementing EFG’s profitable and sustainable growth strategy,” he said.

At the end of June this year, EFG’s assets under management fell to SFr155.8 billion ($156.9 billion) from SFr172 billion at the end of December 2021, reflecting a slide in global equity markets. Net new assets fell to SFr1.7 billion from SFr4.6 billion.