The Swiss private bank nabbed a key private banker from Deutsche Bank for its top management.
Zurich-based EFG is hiring Enrico Piotto as its chief risk officer, effective June 1, it said in a statement on Thursday. Piotto, who will report to EFG EO Giorgio Pradelli as well as join top management, is currently head of lending in Deutsche Bank's wealth management arm in Europe.
He replaces previous risk chief Raj Singh, who left EFG in December and is now a board director at Allied Irish Banks, or AIB, one of Ireland's largest retail and commercial banks. EFG's finance chief Dimitris Politis had stepped into the risk role temporarily after Singh left.
Piotto, who is based in Zurich, spent the bulk of his career – 2003 to 2018 – at UBS, most recently as risk chief for Switzerland, Europe, and emerging markets. A PhD nuclear physicist, he is Swiss and Italian.
