Swiss Post's Board of Directors has nominated the seven members of the Board of Directors for the future PostFinance Ltd on behalf of the General Meeting of PostFinance Ltd of 1 October 2012, which held the vote. Commercial lawyer Prof. Dr Rolf Watter has been nominated as Board Chairman, and Dr Michaela Troyanov and Dr Patrick Frost have also been appointed to the Board of Directors. The representatives nominated from Swiss Post are its Board members Dr Marco Durrer and Adriano P. Vassalli, CEO Susanne Ruoff and CFO Pascal Koradi. 

PostFinance to be spun off in second quarter of 2013

PostFinance's transformation and spin-off into a public limited company under private law, PostFinance Ltd, will take place following a Federal Council resolution expected in the second quarter of 2013, and will be completed retroactively from 1 January 2013. PostFinance will be run and supervised by Swiss Post's governing bodies until the transformation takes place. The aim is to capitalise on the newly acquired expertise of the future PostFinance Ltd's supervisory board – right from the transition phase.

PostFinance still owned by Swiss Post

In its new form as a public limited company, PostFinance will continue to be owned by Swiss Post and will go on investing client funds with quality and sustainability in mind. PostFinance will be subject to supervision by FINMA, which underscores its importance as a leading Swiss retail financial institution. Operationally, it will continue to be run by its own executive management team, which will independently report to the nominated Board of Directors. PostFinance is expected to receive a banking licence once it becomes subject to FINMA supervision. FINMA's licensing procedure with respect to the submitted application is underway.

About PostFinance

PostFinance is one of Switzerland's leading financial institutions and an ideal partner for all customers who want to manage their own finances. As the number one for financial transactions in Switzerland, Swiss Post's financial arm guarantees trouble-free cash flow on a daily basis. PostFinance offers its customers all they need to manage their money easily, from payments, savings and investments through to retirement planning and financing.

Brief profiles:

Prof. Dr Rolf Watter, 54, is a partner at the law firm Bär & Karrer with a focus on company and capital market law. He currently holds directorships at Nobel Biocare (Chairman) and Zurich Insurance Group, and previously served on various supervisory boards including Syngenta and Centerpulse. He also holds two directorships in unlisted companies, is honorary professor at the University of Zurich and is a member of the SIX Regulatory Board.

Dr Marco Durrer, 60, is a member of Swiss Post's Board of Directors. He has wide-ranging experience in the financial sector over many years and has held a number of senior management positions during his career. Most recently, he was CEO of Valiant Privatbank Ltd and a member of the executive management at Valiant Holding (2006-2009). Marco Durrer currently holds directorships with Picard Angst Asset Management Ltd and Piguet Galland Cie. Ltd (where he is also a member of the Audit Committee).

Dr Patrick Frost, 44, holds degrees in natural science (ETH), economics (Dr. rer. pol.) and law, and has longstanding, broad management experience in the financial services sector. Since 2006, he has been Group Chief Investment Officer at Swiss Life and a member of the Corporate Executive Board. He currently holds various directorships within Swiss Life. At operating level, he is responsible for the investment management of over CHF 140 billion in assets, including a significant portion in bonds and real estate investments as well as retail market products.

Pascal Koradi, 40, is Chief Financial Officer (CFO) and a member of the Executive Management at Swiss Post. Mr Koradi holds a degree in business administration, is a Chartered Financial Analyst (CFA) charterholder, and has completed various programmes of further education at the University of California (UCLA). During his career, he has held various senior management positions in the banking sector. Prior to joining Swiss Post in 2012, he was CFO at the Credit Suisse subsidiary Neue Aargauer Bank AG (NAB) (2006-2012). He does not currently hold any other external directorships.

Susanne Ruoff, 54, is CEO of Swiss Post. During her 20 years at IBM, she held a variety of management positions in marketing, distribution and services. As a member of IBM Switzerland’s Board of Executives, she was responsible for the Global Technology Services business, which included all maintenance, outsourcing and project services. In her capacity as an employee representative, she was also a member of the Board of Trustees for IBM's pension fund for six years. Prior to joining Swiss Post, Susanne Ruoff was CEO of British Telecom Switzerland Ltd. She will continue to serve as a member of the Board of Directors of Geberit Ltd until April 2013.

Dr. Michaela Troyanov, 51, holds several law degrees (Dr. iur., University of Vienna; M.C.J., NYU New York, lic. iur., University of Geneva). She works as an independent consultant in Geneva and has previously held senior management positions within legal and compliance in the financial sector (Lombard Odier Darier Hentsch & Cie, SIX Swiss Exchange). Michaela Troyanov does not currently hold any other directorships.

Adriano P. Vassalli, 58, is a member of the Board of Directors at Swiss Post. He has a federal diploma in auditing and holds many years of experience as a senior auditor and as a consultant for institutions subject to prudential supervision. During his professional career, he managed branches of Arthur Andersen and Revisuisse Ltd. He is currently chairman of the Audit & Risk Committee of the Board of Directors at Swiss Post. He also holds directorships with ATTEST audit & consulting SA (Chairman of Board of Directors) and at the Swiss Red Cross's national association.