The C-suite figure, based in Hong Kong, is retiring from the Swiss firm, after having joined in 2017.

Kees Stoute, regional private banking chief operating officer for EFG Bank, based in Hong Kong, is retiring from the Swiss firm.

A post by David Louie, CEO and Head of North Asia, EFG Bank, on his Linkedin page, said: “It is with both joy and a tinge of sadness for the retirement of Kees Stoute, our dedicated Regional Private Banking chief operating officer of EFG Bank. After 10 exemplary years of service, Kees has decided to embark on a new chapter in his life."

EFG also confirmed to WealthBriefingAsia that Stoute is leaving the business.

Stoute, who has been in his role from July 2023, was previously CEO for EFG Bank Hong Kong from May 2017 to July last year. Before that, he was on the supervisory board for Darwin Depository Services (September 2015 to May 2017). Stoute was also a director of Sonam, a consultancy business in Westbroek, the Netherlands, and was MD for Hubbis – the media group – in Hong Kong from 2015 to 2017. 

EFG Bank is part of the wider Zurich-listed EFG International group. Last week, it said net profits grew by 10 per cent year-on-year reaching a record SFr162.8 million ($184 million) in the first half of 2024.

 A few weeks ago, rumours circulated that the firm might merge with fellow Swiss bank Julius Baer. (It appeared that story was unfounded, and neither bank commented when asked about it. This news service's editor wrote about the episode here.)