Among his previous roles, Philip Lofts has been CEO of UBS Americas.
Having obtained the relevant regulatory approvals, Lofts will be proposed for election to the board of directors of EFG International at the annual general meeting on 21 April, it said in a statement yesterday.
Lofts will succeed Susanne Brandenberger, who has decided not to stand for re-election, as announced on 1 November 2022. Subject to his election by shareholders, Lofts will also chair the risk committee, of which Susanne Brandenberger is currently chair.
With more than four decades of experience in the banking industry, Lofts spent more than 30 years at UBS in a variety of executive and management roles, including being a member of the group executive board from 2008 to 2015. He served as the group chief risk officer from 2008 to 2010 and 2012 to 2015 and as the CEO of UBS Americas in 2011.
Since 2017, Lofts served as a non-executive director of UBS Group Americas, a position that he will be stepping down from on 31 March 2023.