Swiss-based EFG International appoints new head of the UK region and CEO of EFG Private Bank London, replacing Richard Thomas.

EFG International has appointed Christian Berchem, previously at Credit Suisse, as the new head of the UK Region and CEO of EFG Private Bank London, subject to regulatory approval.

Starting in December, he will also serve as a member of EFG’s Global Business Committee, the Zurich-listed firm said in a statement. Berchem will report to Giorgio Pradelli, CEO of EFG International, in addition to the board of EFG Private Bank London.

He will succeed Richard Thomas, who has decided to step down from his role at EFG after more than four years in the post to pursue other opportunities. Leveraging EFG’s full banking licence in the UK, Berchem will be responsible for expanding EFG’s UK hub and booking centre. He will also drive efforts to broaden the product and service offering in the UK region and diversify revenue streams, as well as grow the private banking business in this market, the firm continued.

Berchem is joining from Credit Suisse, where he served as CEO of Credit Suisse (UK), its UK private banking business, until recently. Before joining Credit Suisse in 2017, he served in various senior roles at Barclays, including head of the private bank for London. Previously, he spent nine years at JPMorgan, where he served as head of European cash sales, among other functions. Prior to that, he worked for Merrill Lynch, Morgan Stanley and KPMG, the firm said.

Berchem, who is a German, Canadian and British citizen, holds a bachelor of commerce from the University of Toronto and an MBA from the J L Kellogg Graduate School of Management, Chicago.

“I am very pleased that Christian Berchem is joining us as the new head of EFG’s UK Region and CEO of EFG Private Bank Limited. I am convinced that with his long experience and extensive expertise, as well as his proven leadership skills, he will successfully scale up our UK booking centre and drive the further growth of our business in one of the world’s most important private banking markets,” Pradelli said.

Based in Zurich, EFG International is a global private banking group offering private banking and asset management services. EFG International's group of private banking businesses operates in around 40 locations worldwide. Its registered shares (EFGN) are listed on the SIX Swiss Exchange.