Following completion of the transformation phase, Banca del Gottardo will streamline its Executive Board. The activities of the organisational unit in charge of the strategic reorientation will be integrated into the various management lines. There will be a high-level change in the Asset management and Trading area.
Following completion of the transformation phase, Banca del Gottardo will be streamlining its Executive Board. At the end of September, the organisational unit responsible for the implementation of the new strategy will have completed its tasks. Luca Soncini, who led the strategy implementation project, has decided to leave the Bank in order to pursue fresh challenges. He has held various important management functions at Executive Board level with success and ability, making a significant contribution to the Bank’s development over the last 20 years. He will continue to place his services at the Bank's disposal for a transitional period in order to facilitate the transfer of the remaining strategic projects to line management. The Board of Directors and the Executive Board are very grateful to Luca Soncini for his valuable contribution and commitment and wish him all the best for the future.

Antonio Sergi, Head of Asset Management & Trading, is to leave the Bank following disagreements over leadership issues. The Board of Directors and the Executive Board wish to thank Antonio Sergi for his commitment and significant contribution and wish him continued success in his career. Walter Etter will take over management responsibility for this area in addition to his current duties as Head of IT & Operations.

Nicola Mordasini proposed for election to Board of Directors in 2008

Nicola Mordasini, who has been in the Bank's employ for more than 30 years, will maintain the positions of Deputy CEO and Chairman of the Board of Directors of Banca del Gottardo Italia until spring 2008, when he will join the Board of Directors of Banca del Gottardo, by agreement with Swiss Life. His wealth of experience will be a considerable asset in this position. On his transfer to this new role, the position of Deputy CEO will be discontinued.

Rolf W. Aeberli, Chief Executive Officer, said: "Following conclusion of this crucial phase of strategic reorientation, we will now focus all our attention on delivering excellence in client relationship management and developing our staff. I am delighted that Nicola Mordasini, who will work closely with me until spring 2008 will continue to be involved with the Bank after that date, too. The Executive Board, which shares our common goals and values, is certain that thanks to its staff’s high degree of professionalism, the Bank is well equipped to face the challenges of the future.”

Nicola Mordasini, Deputy CEO, said: "In the last few months Banca del Gottardo has perfected its strategy by focusing on its private banking model which also includes a range of high-quality services for entrepreneurs and businesses. Until spring 2008, in addition to my current tasks I will be dedicating time and efforts to supporting our advisors in their dealings with clients."

Banca del Gottardo
Media Relations
Franco Rogantini
Viale S. Franscini 8
6901 Lugano
Tel. +41 91 808 33 60
Fax +41 91 923 94 33
Viale S. Franscini 8
6901 Lugano

Banca del Gottardo, with head office in Lugano (Switzerland), is a company of the Swiss Life Group, a leading provider of pensions and life insurance in Europe. The Bank has a well expanded national and international network. With subsidiaries, branches and representative offices in Zurich, Geneva, Lausanne, Bellinzona, Chiasso, Locarno, Bergamo, Milan, Rome, Treviso, Turin, Athens, Luxembourg, Madrid, Paris, Hong Kong and Nassau (Bahamas). Banca del Gottardo is positioned to offer top-of-the-line global financial services, delivered by a team of highly qualified specialists to its local and international clientele.