The nominee has a long career track record in operational risk and related roles at the banks.

EFG Private Bank, the London-based subsidiary of EFG International, has nominated former UBS and Standard Chartered senior figure Richard Metcalf as new chair of the UK board, taking effect from 1 June, subject to regulatory clearance. He will succeed John Reed, who is retiring after nine years in the role.

Metcalf spent a large part of his executive career at UBS in risk roles based in the UK, Asia, the US and Switzerland, which included group chief risk operating officer and EMEA and UK chief risk officer at the Swiss bank. When he left UBS, Metcalf worked as group head of operational risk for Standard Chartered. 

For the past three years, Metcalf has served as an independent non-executive director at Credit Suisse (UK).

“Richard gained an outstanding reputation during his time at UBS and Credit Suisse. His skills complement those of the existing UK board and I am convinced that he will play a key role in ensuring the sound development of EFG’s business in one of our key markets where we have ambitious growth plans. I would also like to express my sincere thanks to John Reed, our outgoing chair, for his dedication to the company for over nine years. He was instrumental in building our solid risk and governance frameworks and in reinforcing our culture.”