Swiss private bank EFG International has appointed Bernardo Meyrelles do Souto as the new country head of Portugal.

The appointment is part of the company’s 2019-2022 strategic plan to bolster its private banking business in Portugal beyond its base in Lisbon.

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In his new role, Meyrelles do Souto will be responsible to lead the private bank’s growth initiative in Portugal.

He will also focus on introducing the bank’s CRO model and its investment and wealth management solutions in the country.

He will report to EFG Bank (Luxembourg) CEO, Lena Lascari. Pedro Rego, who launched the Portugal branch, will report to Meyrelles do Souto.

Meyrelles do Souto previously worked at Deutsche Bank as the chief country officer in Portugal since 2012. Prior to that, he held the role of branch manager and head of Private Banking & Business Clients in Portugal.

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From 2001 to 2005, he worked at Santander (Portugal) as the head of business management & development for private banking, retail & life insurance.

EFG International head of Continental Europe region Adrian Kyriazi said: “To further develop and grow our presence in the country in line with that strategy, we are pleased to welcome Bernardo Meyrelles to EFG in his new role as Country Head Portugal.

“With his long experience and vast expertise in the financial services industry, I am convinced that Bernardo will play a pivotal role in building a successful private banking franchise in Portugal.”

EFG International launched its office in Lisbon, Portugal in June this year. The new office operates as an advisory branch of EFG Bank (Luxembourg) – the Swiss bank’s Luxembourg arm.

Last month, EFG International appointed Amy Yip as the new chair of its Asia Pacific advisory board, replacing Fong Seng Tee.