REYL Intesa Sanpaolo receives regulatory approval for its governance transition as of July 1st, 2024. François REYL to join the Board of Directors and Pasha Bakhtiar to become CEO

GENEVA, July 1, 2024 /PRNewswire/ -- REYL Intesa Sanpaolo has received FINMA approval for the implementation of its new governance structure. François Reyl becomes a Member of the Bank's Board of Directors and Chairman of its Strategic Committee. Pasha Bakhtiar, currently a Partner and Member of the Executive Committee, becomes the new CEO of the Bank and Chairman of the Executive Committee. The change will take effect on July 1st, 2024.

François Reyl and Pasha Bakhtiar

Under François Reyl's leadership, REYL & Cie has expanded from an authorised securities dealer with 15 staff in Switzerland to a fully licensed Bank with 400 employees, an international presence and a diversified business scope. He co-led the incubation of Alpian, Switzerland's first digital private bank and, in 2021, initiated the negotiations that resulted in the Bank's strategic partnership with Fideuram - Intesa Sanpaolo Private Banking. François Reyl will continue to oversee the development of the Group's strategic activities from a non-executive standpoint.

François Reyl, Partner and Chief Executive Officer, comments: "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. This transition is the logical and planned evolution of REYL & Cie since its integration into the Intesa Sanpaolo Group in 2021."

Pasha Bakhtiar, Partner, adds: "I am very honoured to pursue François Reyl's entrepreneurial success as Chief Executive Officer of the Group and to bring my full commitment to the pursuit of our high value-added activities for all our clients, working closely with and for the benefit of all shareholders and our employees."

About REYL Intesa Sanpaolowww.reyl.com^[1]

Founded in 1973, REYL Intesa Sanpaolo is a diversified banking group with offices in Switzerland (Geneva, headquarters, Zurich, Lugano), Europe (London, Luxembourg, Malta) and the rest of the world (Singapore, Dubai). It manages assets in excess of CHF 20 billion (more than CHF 30 billion including minority interests) and employs around 400 professionals. In 2021, it entered into a strategic partnership with Fideuram - Intesa Sanpaolo Private Banking, a leading European banking player. Fideuram ISPB currently holds a 73% stake in REYL & Cie Ltd.

Developing an innovative approach to banking, REYL Intesa Sanpaolo serves a clientele of international entrepreneurs and institutional investors through its Wealth Management, Corporate Finance, Asset Services, and Asset Management business lines.

References

1. ^{^} www.reyl.com (www.reyl.com)