Stephan Bachmann named to BCV's Board of Directors

The Vaud Cantonal Government has appointed Stephan Bachmann to BCV's Board of Directors. Mr. Bachmann, who has extensive experience in corporate auditing and broad knowledge of the banking sector, will take up his position on 1 January 2008.

Lausanne, Switzerland, 30 May 2007 – The Vaud Cantonal Government, in accordance with its responsibilities under Article 12a (1(b)) of the new cantonal law governing BCV, has named Stephan Bachmann to BCV's Board of Directors. Mr. Bachmann will replace Paul Hasenfratz as one of the four members of BCV's Board appointed by the Vaud Cantonal Government. Mr. Hasenfratz informed the Vaud Cantonal Government of his intention to leave the Board on 31 December 2007. Mr. Hasenfratz's decision reflects the Board's policy of gradual internal renewal.

An auditing specialist

Stephan Bachmann rose through the ranks during a long career at PricewaterhouseCoopers S.A. (PwC). Mr. Bachmann began as an auditor with Schweizerische Treuhandegesellschaft in Basel. He then joined Coopers & Lybrand (later PwC) and worked in New York, Lausanne and, from 1980 onwards, Geneva. He was a member of PwC's Management Board and Board of Directors, and was head of Assurance for Switzerland in recent years. Mr. Bachmann is a Swiss-Certified Accountant and, while at PwC, was a Bank Auditor authorized by the Swiss Banking Commission. He has extensive experience in handling clients covering both the industrial and financial services sectors, both in Switzerland and internationally. Mr. Bachmann has been living in Vaud for many years, and is fluent in German, French and English. He retired from PwC in 2006.

An outgoing Board member who has left his mark

As BCV welcomes the arrival of the newest Board member, it would also like to extend its warmest thanks to Paul Hasenfratz. Mr. Hasenfratz’s long experience in the field, thorough knowledge of the financial sector in Switzerland and warm, outgoing nature have been major assets for BCV.

Contact(s)

Christian Jacot-Descombes, Press Officer
Phone + 41 21 212 28 61
E-mail

Wilhelm Blaeuer, Investor relations
Phone + 41 21 212 20 71
E-mail

This press release is being issued outside the trading hours of the SIX, Swiss Exchange in order to comply with the principles of ad hoc disclosure pursuant to the SIX listing rules.