Swiss private banking group EFG International nominates two new directors to its board, including one veteran executive in Hong Kong.

Swiss private bank EFG International has nominated two new directors to its board, one of whom is based in Asia.

Robert Chiu is a Hong Kong citizen and since January 2014 has served as non-executive chairman of EFG Bank Asia. Prior to that, he was the bank's chief executive and executive chairman. Before joining EFG, he was the managing director and general manager of Republic National Bank of New York, where he led the firm's Asia-Pacific private banking business. He also worked for Standard Chartered Bank and Citibank.

The other nominee is Daniel Zuberbuhler, who is a Swiss citizen and formerly the senior financial consultant, director, for audit financial services at KPMG Zurich. 

After over eight years as a member of the board, Hans Niederer is not putting himself forward for re-election at the Annual General Meeting in 25 April 2015. On this same day, shareholders will vote to finalise Zuberbuhler's and Chiu's board seats, as well as elect the chairman and the members of the remuneration committee for a one-year term of office.

Among other recent developments, EFG has been granted a wholesale banking licence in Singapore, according to the statement bearing its 2013 results. The licence effectively upgrades the bank's status in the city-state from a merchant banking capacity to a company that is now able to accept Singapore dollar denominated deposits and conduct other financial transactions in the currency.

Early in March, EFG said it created a new wealth management position in Hong Kong to cater to the growing North Asian market. Effective 24 February 2014, Alvin Ma became the head of emerging wealth, to focus on building up EFG's business in North Asia outside of its established markets in Hong Kong and Taipei.

EFG International operates in around 30 countries and has around 2,000 employees.