Under the change, François Reyl, who has been CEO since 2008, will move to chair its strategic committee, and partner and executive committee figure, Pasha Bakhtiar, will take over the chief executive slot.

The Swiss Financial Market Supervisory Authority, or FINMA has approved REYL Intesa Sanpaolo’s new governance structure. 

Under the new setup, François Reyl will become a member of the Swiss bank’s board of directors and chairman of its strategic committee. 

Pasha Bakhtiar, partner and member of the executive committee, will become the new CEO of REYL Intesa Sanpaolo and executive committee chairman.

The changes take effect from 1 July, the lender said in a statement yesterday. 

Reyl joined the bank in 2002 after a 13-year career as an M&A lawyer with Jones Day and an investment banker at Credit Suisse First Boston. Initially head of development, he became CEO in 2008. Reyl played a major role in launching RAM Active Investments, subsequently sold to Mediobanca in 2018. He also launched the bank’s corporate finance and asset services business lines.

Reyl also co-led the incubation of Alpian, the Swiss digital private bank and, in 2021, initiated the negotiations that led to the firm’s strategic partnership with Fideuram - Intesa Sanpaolo Private Banking.  

Reyl is succeeding Ruth Metzler-Arnold on the board of directors.

Bakhtiar has been a partner at the bank since 2018 and a member of the executive committee since 2023. Prior to his appointment as a partner, Bakhtiar co-founded and led the bank’s subsidiary in the United Arab Emirates from 2014 to 2018. He also played a key role in the launch of Alpian, of which he chairs the board of directors. 

“After 22 years in an executive role at Reyl & Cie, I am very pleased to hand over to Pasha Bakhtiar the role of ensuring the continuation of our operational activities and supporting the development of the Group's strategy. I intend to remain involved as a shareholder and board member, offering my support whenever requested,” Reyl said.