François Reyl and Pasha Bakhtiar. Source: REYL Intesa Sanpaolo

REYL Intesa Sanpaolo has acquired FINMA approval to execute its new governance structure.

In addition, François Reyl joins the bank’s board of directors and chairs its strategic committee, and Pasha Bakhtiar, who is now a partner and member of the executive committee, will become the bank’s next CEO and chairman of the executive committee. The changes will take effect on 1 July 2024.

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Reyl began his career in finance in 2002 as head of development at the bank, rising to CEO in 2008 following 13 years as an investment banker at CSFB and an M&A lawyer with Jones Day.

Under his direction, REYL & Cie has grown from an authorised securities dealer in Switzerland with 15 employees to a bank with 400 employees, a global presence, and a diverse range of commercial operations.

He had a key role in the establishment of the Bank’s corporate finance and asset services business lines as well as the introduction of RAM Active Investments, which was eventually sold to Mediobanca in 2018.  In 2021, Reyl started the talks that led to the bank’s strategic collaboration with Fideuram – Intesa Sanpaolo Private Banking. He also co-directed the incubation of Alpian, Switzerland’s first digital private bank.

Reyl succeeds Ruth Metzler-Arnold on the board of directors and will stay on to manage the group’s strategic activities as a non-executive.

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Moreover, Bakhtiar, a partner at the bank since 2018, will become CEO effective 1 July 2024. With 25 years of experience in wealth management, asset management, and digital banking strategies, Bakhtiar will chair the bank’s executive committee and oversee business development and operational matters.

Reyl stated: “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. I intend to remain involved as a shareholder and Board Member, offering my support whenever requested. Pasha Bakhtiar is an extremely talented professional with particularly relevant and deep experience in the areas of Wealth Management, Asset Management and Digital Banking.  He has my full confidence as well as that from the Bank’s Board, Executive Committee and controlling shareholder. This transition is the logical and planned evolution of REYL & Cie since its integration into the Intesa Sanpaolo Group in 2021.”

Bakhtiar added: “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.”