Jacques Brossard is to leave BCV

MR JACQUES BROSSARD, HEAD OF THE PRIVATE BANKING AND ASSET MANAGEMENT DIVISION, IS TO LEAVE BCV

Mr Jacques Brossard, who is in charge of the Private Banking and Asset Management Division and a member of the Executive Board, has announced his decision to leave the Bank to give his career a new direction. As BCV wishes to ensure the smooth handing over of all Mr Brossard's duties, the date of his departure has not yet been fixed.

Mr Brossard joined BCV in 1995 as Head of the Asset Management Department, and was instrumental in developing this department's competence and performance. He was appointed member of the Executive Board as well as Head of the Financial Division (now the Private Banking and Asset Management Division) in July 2001.

In accordance with the Bank's Articles of Association, the successor to Mr Brossard will have to be appointed by the Vaud Government on the recommendation of the Board of Directors. BCV will issue further information in due course. In the meantime, the Bank has taken immediate measures to ensure the smooth running of the Division.

BCV would like to thank Mr Brossard for his contribution and wishes him success in his future endeavours.

Lausanne, 18 June 2003

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