The board of directors of EFG Financial Products Holding AG (SIX:FPHN), the Zurich-based integrated structured investment services provider, has nominated Pierin Vincenz, chairman of Notenstein Private Bank and CEO of Raiffeisen Switzerland, and Adrian Künzi, CEO of Notenstein Private Bank, as members of the board. The company also announces the agenda for the annual general meeting which will be held on April 25, 2013.
As announced on March 12, 2013, Notenstein Private Bank and EFG International have signed a share purchase agreement under which Notenstein Private Bank, pending regulatory approvals, will acquire EFG International’s 20.25 % stake in EFG Financial Products. FINMA has already approved the transaction.
In connection with the transaction, the board of directors of EFG Financial Products has nominated Pierin Vincenz, chairman of the board of directors of Notenstein Private Bank and CEO of Raiffeisen Switzerland, and Adrian Künzi, CEO of Notenstein Private Bank, as new members of the board. They will be proposed for election at the annual general meeting on April 25, 2013, provided that the transaction has been completed by that time. Should this not be the case, they will be proposed for election at a later date at an extraordinary shareholders meeting. As representatives of EFG International, John Williamson (CEO), Giorgio Pradelli (CFO) and Frederick Link (CRO) will step down from their roles on the board of directors at closing.
Furthermore, EFG Financial Products will propose to shareholders a change of its legal name in the context of an amendment to the articles of association. The timing thereof will also be dependent on the effective date of the closing. The new name will be published beforehand.