Richard Thomas, chief operating officer at Barclays UK for wealth and investments, has been recruited by EFG Private Bank in the UK to become its next chief executive and head of the UK region.
He will succeed Sir Anthony Cooke-Yarborough, who will take on the new global position of private banking chairman, EFG said, saying that these various moves are being taken to strengthen its management teams.
Daniel Luescher becomes EFG global head of human resources and Mauro Palombo, global head of credit solutions and global head of strategic client management.
Donald Klotter is the new global head of institutional sales while Roland Kempf is appointed head of private banking Zurich.
Mr Thomas, who has an MBE will take up his role this coming January. He has worked for Barclays since 2008. Prior to his current role, he served as chief operating officer of the UK private bank from 2015 to 2017 and business head for the London region and specialist proposition UK from 2012 to 2015. Before that, he was a managing director and team leader UK.
EFG noted that Mr Thomas has broad leadership experience in private banking and has held both front office and operational support functions in which he focused on delivering major strategic and infrastructure projects. Prior to his career at Barclays, he held senior posts in the UK’s Ministry of Defence and the Royal Navy.
Sir Anthony will report directly to chief executive Giorgio Pradelli in his new global chairman role.
He will focus on further harmonising and transforming the bank’s private banking business to generate profitable and sustainable growth globally. He will lead key client initiatives and support commercial activities and measures to successfully position the business.
He will remain a member of the global business committee. He will also continue on the board of EFG Private Bank, as vice-chairman.
Mr Luescher, as global head of human resources succeeds Giovanni Weber, who has decided to retire from his post following the successful completion of the BSI integration.
Mr Palombo, as global head of credit solutions and global head of strategic client management, will report to Renato Cohn, head of investment solutions and deputy chief executive, and to chief executive Giorgio Pradelli. He will join EFG from Julius Baer, where he held various senior functions for over 20 years.
Mr Klotter, as global head of institutional sales, has been with EFG since 2016 and served as a client portfolio manager in asset management, working alongside the US equity growth investment team. In his new role, he will be responsible for global business development initiatives and will manage the sales teams based in Geneva, Hong Kong, London, Miami, Singapore and Zurich.
Mr Kempf will join EFG as head of private banking Zurich from Privatbank IHAG in Zurich, where he was head of private banking and external asset managers. Prior to that, he worked at Clariden Leu.
Giorgio Pradelli, chief executive of EFG International said: “Today’s appointments clearly demonstrate that we are continuing to drive forward the combined business, strengthening our management teams across geographies and transforming EFG into a leading Swiss private bank.
“I would also like to thank Anthony Cooke-Yarborough for leading the UK bank over the last seven years and for delivering strong commercial growth.”