ZURICH, March 7 (Reuters) - Swiss bank BSI, which was recently sold by Brazil’s Grupo BTG Pactual SA to EFG International AG, said on Monday that the head of its Asia business would leave the bank.
“After having spent more than 45 years in the financial industry, Mr Hans Peter Brunner, CEO BSI Asia, decided to retire and is leaving BSI accordingly,” a BSI spokesman said in a statement.
“The responsibility for BSI Bank Ltd Singapore will be handed over to Mr Raj Sriram, who has joined BSI in 2009 and is currently head of private banking Asia.”
Brunner, 64, will work with Sriram on the transition in the coming weeks, the spokesman said.
EFG announced a deal to buy BSI earlier this year, a purchase it hopes will catapult the bank into Switzerland’s top five money managers for the wealthy.
Zurich-based EFG will pay 975 million Swiss francs ($975 million) in cash, with BTG Pactual also getting a roughly 20 percent stake in EFG. This could rise to 30 percent if the share sale gets bogged down in tough markets.
$1 = 0.9998 Swiss francs Reporting by Joshua Franklin; Editing by Alexander Smith