People Moves
EFG's Classen, Collardi Proposed For Board Seats, Compensation Hike

Both men have joined the Swiss bank having worked in senior roles at a number of rival firms.
Prominent private banking figure Boris Collardi, who bought a 3.6
per cent stake in EFG International
in May, is being proposed as a board member at the
Zurich-listed firm.
Collardi would, if his proposal is enacted at an extraordinary
general meeting on 6 October, sit alongside Alexander Classen.
Classen was made new chair of the firm earlier this year, taking
over from Peter Franconi, who decided to step down in October for
personal reasons.
“Alexander Classen and Boris Collardi are both proven leaders in
the global wealth management sector with extensive experience and
deep knowledge of the industry,” the bank said in a statement
yesterday.
And the bank said that its board of directors is also
proposing to increase its total maximum fixed compensation,
subject to Classen and Collardi being appointed.
The EGM will be held without the personal attendance of
shareholders, who can vote via an independent proxy, the private
bank said.
Classen has served as chief executive and country head of
Switzerland of HSBC Private Bank (Suisse) since 2018 and has now
resigned from this post, effective 30 September 2022. Prior to
that, he was managing partner at Bedrock, an investment and
advisory firm based in Geneva. From 2011 to 2015, Classen was CEO
of Coutts International. Additionally, he spent four years with
Morgan Stanley International as head of private wealth management
EMEA and he ran Goldman Sachs Bank Zurich as general manager from
2000 to 2006. At Pictet, where Alexander Classen started his
career as a portfolio manager and private banker in 1985, he
acted as local CEO in Singapore from 1995 to 2000.
Collardi is a former CEO at Julius Baer, and partner at another
Swiss private bank – Pictet.