Corporate governance

 

Members of the Board of Directors

Jacques de Watteville

Jacques de Watteville

Chairman of the Board of Directors

Swiss citizen, born in 1951

Education

Degree in economics and doctorate in law degree from the University of Lausanne

Admitted to the bar of the Canton of Vaud

Career experience

Chairman of the Board of Directors since 1 January 2018. Jacques de Watteville holds a degree in economics and a doctorate in law degree from the University of Lausanne and has been admitted to the bar of the Canton of Vaud. After serving as a Delegate of the International Committee of the Red Cross in Lebanon, he began a career in diplomacy, entering the diplomatic service of the Swiss Federal Department of Foreign Affairs (FDFA) in 1982. He served as Switzerland’s official representative to several countries as well as the European Union, and in the late 1990s was named Head of the FDFA’s Economic and Financial Affairs Division where he handled a number of international matters relating to Switzerland’s financial services sector. He also played a key role in resolving various tax disputes. Jacques de Watteville became State Secretary for International Financial Matters in 2013, and since 2015 has been Switzerland’s chief negotiator with the European Union, most notably on affairs related to the free movement of persons, tax issues, and bilateral agreements.


Reto Donatsch
Reto Donatsch

Swiss citizen, born in 1950

Vice Chairman of the Board of Directors

Education

Economics degree from the University of Geneva

Career experience

After completing his studies and two banking internships, Reto Donatsch started his career in the wealth management business at Credit Suisse in 1978. He first worked at the head offices in Zurich, where he stayed for ten years and reached the rank of Deputy Director. In 1989, he was promoted to Director and head of the Finance Department of Credit Suisse Geneva. He joined Bank Leu AG, Zurich, in 1993 and became CEO in 1996. He also served on the Executive Board of Credit Suisse Private Banking from 1997 to 2001, representing the Group's independent banks. From 2004 to 2007, he was Vice Chairman of the Board of Directors of Bank Leu AG. Since then, Reto Donatsch has served on the boards of several companies and foundations. Reto Donatsch was elected at the Annual Shareholders' Meeting on 5 May 2011. He has chaired the Compensation, Promotions and Appointments Committee.


Jack G. N. Clemons

Jack G. N. Clemons

Member of the Board of Directors

Dual Swiss and British citizen, born in 1966

Education

Masters degree from Cambridge University, UK
MBA from INSEAD, France
Fellow of the Institute of Chartered Accountants in England and Wales

Career experience

After earning his Masters degree from Cambridge University and MBA from INSEAD, Jack Clemons started his career in auditing and subsequently became a partner at Deloitte. He then served as Chief Operating and Financial Officer for a pan-European internet group. In 2006, Jack Clemons joined Lausanne-based Bata, a leading global manufacturer and retailer of footwear, as Chief Financial Officer; he was later appointed Chief Executive Officer, a position he held until 2015. Since then, he has served on the boards of several companies. A Chartered Accountant and former auditor, he has extensive experience in managing large corporations and helping them implement digital strategies. Jack Clemons was elected at the Annual Shareholders’ Meeting held on 21 April 2016 and joined the Board on that date.


Ingrid Deltenre

Ingrid Deltenre

Dual Swiss and Dutch citizen, born in 1960

Member of the Board of Directors

Education

Degree in humanities from the University of Zurich

Career experience

Ingrid Deltenre was elected at the Annual Shareholders’ Meeting on 1 May 2014 and joined the Board on that date. After graduating from the University of Zurich with a humanities degree, she held various executive positions in publishing before becoming CEO of Publisuisse in 2000. Ingrid Deltenre was appointed to head up Schweizer Fernsehen (SF), the leading public TV broadcaster in German-speaking Switzerland, in 2004, and held this position for six years. From 2010 to 2017, Ingrid Deltenre was Director General of the Geneva-based European Broadcasting Union (EBU), an organization with close to 400 employees. Since then, she was appointed at several Boards of Directors.


Fabienne Freymond Cantone
Fabienne Freymond Cantone

Member of the Board of Directors

Dual Swiss and Italian citizen, born in 1963

Education

Master's degree in economics from the University of Geneva

Career experience

Fabienne Freymond Cantone, who was appointed to the Board of Directors by the Vaud Cantonal Government, took up her position on 26 April 2018. She began her professional career at Arthur Andersen and then worked at Banca della Svizzera Italiana. She served on the finance committee of the Nyon municipal legislature from 1998 to 2006, and was head of finance in the Nyon municipal government from 2006 to 2011. She was a member of the Vaud Cantonal Parliament from 2002 to 2018, where she served on the finance committee until 2012, and became chair of the parliament’s control committee in 2017. She sits on the boards of several companies.


Peter Ochsner
Peter Ochsner

Member of the Board of Directors

Swiss citizen, born in 1956

Education

HWV College for Economics and Business Administration, Zurich Certified public accountant from Kammerschule Zurich

Career experience

After gaining experience in the Internal Audit & Organization Department of the Swiss National Bank, Peter Ochsner joined PricewaterhouseCoopers S.A. (PwC) in 1982. He served on PwC’s management board, and in recent years headed the firm’s auditing practice in Switzerland. Peter Ochsner is a Swiss-Certified Accountant and, while at PwC, was a lead bank auditor. He has extensive experience with clients in the banking and insurance industries, both in Switzerland and internationally. Peter Ochsner retired from PwC in 2014. Peter Ochsner has been appointed by the Vaud Cantonal Government and took up his position on 1 July 2016. Since he joined BCV’s Board he has chaired the Audit and Risk Committee.


Jean-François Schwarz
Jean-François Schwarz

Member of the Board of Directors

Swiss citizen, born in 1955

Education

Master's in Economics (with a specialization in business administration) from the Business and Economics Faculty of Lausanne University

Career experience

Jean-François Schwarz was appointed by the Vaud Cantonal Government and joined the Board on 1 January 2019. He has over forty years of experience in the banking sector. Mr. Schwarz began his career at BCV in 1976 in corporate lending. From 1986 to 2003, he worked for Credit Suisse in Lausanne, New York, Zurich, and Geneva where he took on important roles in the bank’s lending and SME businesses. In 2003, he returned to BCV as a member of the Executive Board with responsibility for the Corporate Banking Division, which comprises the SME, Large Corporates, and Trade Finance departments. He retired in June 2017. 

Committees of the Board of Directors

Audit and Risk Committee

  • Peter Ochsner (Chair)
  • Jack Clemons
  • Jean-François Schwarz

Following an in-depth review, the Board of Directors decided to turn the Audit Committee into an Audit and Risk Committee with effect from 1 January 2010. The aim is to expand the Committee's role in matters of risk management and control. Specifically, the Audit and Risk Committee helps the Board of Directors assess the various types of risk faced by BCV, and structure and organize the Bank's risk management and control processes. It draws up opinions and recommendations for the Board after conducting a critical examination, on a regular or case-by-case basis, of: the Group's main risks, its risk management policy and strategy, its risk reports, and its compliance with regulatory capital requirements.


Compensation, Promotions and Appointments Committee

  • Reto Donatsch (Chair)
  • Ingrid Deltenre
  • Fabienne Freymond Cantone
  • Jacques de Watteville (in an advisory capacity)
  • Pascal Kiener (in an advisory capacity)

The Committee reviewed its operational procedures and duties at the end of 2009 in order to better assist the Board of Directors, particularly in HR strategy and managing employee turnover. The Committee clarified its tasks in matters of establishing job requirements, selecting and proposing candidates for senior management and board positions, setting and assessing objectives, and setting compensation.

Members of the Executive Board

Pascal Kiener

Pascal Kiener

CEO since 1 May 2008

Swiss citizen, born in 1962

Education

MSc in mechanical engineering from the Swiss Federal Institute of Technology in Lausanne (EPFL) in 1985. MBA from INSEAD in Fontainebleau in 1992

Career experience

Between 1985 and 1991, Mr. Kiener worked as an engineer for Fides Informatics in Zurich and Hewlett Packard in Geneva. In 1993, he joined the consulting firm McKinsey & Company. In 2000, he was made partner and a member of the Management Committee of McKinsey Switzerland. He acquired experience in financial services, and in banking in particular, during these years as an advisor for leading financial institutions in Switzerland and other European countries. He managed large projects involving strategy, risk management, controlling, and business process re-engineering. Mr. Kiener joined BCV as CFO on 1 June 2003 and was appointed CEO on 1 May 2008.

 


Thomas W. Paulsen

Thomas W. Paulsen

CFO, member of the Executive Board with responsibility for the Finance & Risks Division since 1 January 2009

Swiss citizen, born in 1965

Education

Degree in economics from the Business and Economics Faculty of Lausanne University in 1998. MSc in economics from the London School of Economics (LSE) in 1989. PhD in economics from Lausanne University in 1992.

Career experience

Mr. Paulsen started his career in energy trading at EGL. In 1995, he joined the consulting firm McKinsey & Company, where he was elected Principal Associate in 2000. During his time at McKinsey, he managed a large number of strategic projects for financial institutions and major energy companies in Switzerland and throughout Europe, focusing particularly on the risk management aspects. Mr. Paulsen joined BCV in July 2002 as Chief Risk Officer (CRO), and in this capacity created and led the Risk Management Department. He was named CFO and Head of the Finance & Risks Division on 1 January 2009.


Stefan Bichsel

Stefan Bichsel

Member of the Executive Board with responsibility for the Asset Management & Trading Division since 1 May 2009

Swiss citizen, born in 1955

Education

Admitted to the bar of Bern Canton in 1982 Master of Laws (LL.M) from Georgetown University in Washington DC in 1986. Admitted to the bars of New York and Connecticut in 1987. Advanced Management Program at the Wharton Business School, Philadelphia in 1994.

Career experience

Following law studies in Lausanne and Bern, Mr. Bichsel started his career at UBS. He was admitted to the bars of New York and Connecticut, before working for Pictet & Cie in Geneva. In 1994, he was appointed as the first CEO of Swissca Holding AG (now Swisscanto). From 1998 to 2001, he served as Chairman of the Board of the Swiss Funds Association (SFA). In 2002, Mr. Bichsel was named to the Management Board of Robeco Group (Rotterdam), where he was put in charge of the company’s operations outside the Netherlands. From 2003 to 2005, he was Chairman of the Board of the European Fund and Asset Management Association (EFAMA) in Brussels. He joined Lombard Odier Darier Hentsch Group (LODH) in 2006 as a partner in the holding group and member of Group Management. He joined BCV as a Member of the Executive Board with responsibility for the Asset Management & Trading Division on 1 May 2009.


José F. Sierdo

José F. Sierdo

Member of the Executive Board with responsibility for the Retail Banking Division since 3 March 2014

Swiss citizen, born in 1963

Education

Degree in economics and business administration from the Business and Economics Faculty of Lausanne University in 1992. MBA from IMD in Lausanne in 2001.

Career experience

Mr. Sierdo began his banking career in 1993 in retail banking at UBS. He went on to do project finance in New York and lending in Zurich, before working at Lombard Odier & Cie from 1998 to 2002. He then returned to UBS, where he held key managerial positions in retail, private and corporate banking, including: Head of Private Banking for French-speaking Switzerland, CEO of UBS Luxembourg and Head of Corporate Clients for Switzerland. Before becoming a banker, he was a military pilot and a member of the Swiss Surveillance Wing. He joined the Executive Board as Head of the Retail Banking Division on 3 March 2014.


Gérard Haerberli

Gérard Haeberli

Member of the Executive Board with responsibility for the Private Banking Division since 1 July 2009

Swiss citizen, born in 1961

Education

Degree in economics (with a specialization in business administration) from the Business and Economics Faculty of Lausanne University in 1983. Certificates from the International Bankers School in New York, Harvard Business School in Boston and IMD in Lausanne.

Career experience

Mr. Haeberli joined Credit Suisse in 1985, where he spent his career until 30 June 2009. From 1987, he held responsibilities in private banking in Yverdon-les-Bains and then worked in Zurich before being transferred to the United States, where he worked in New York and Miami. In 1994 he was transferred to Lausanne, where he took over responsibility for an international desk for Credit Suisse Private Banking. In 1998 he was put in charge of the Vaud region, and became head of Private Banking for all of French-speaking Switzerland in 2000. His responsibilities were extended in 2006 to include all of Credit Suisse’s business lines in Frenchspeaking Switzerland. He joined the Executive Board with responsibility for the Private Banking Division on 1 July 2009.


Andreas Diemant

Andreas Diemant

Member of the Executive Board and head of the Corporate Banking Division since 1 September 2017

Swiss citizen, born in 1968

Education

Andreas Diemant holds a B.Sc. in Business Administration from the Bern University of Applied Science and an Executive MBA from the Universities of Bern and Rochester.

Career experience

He began his career in insurance, working for Zürich Versicherungs-Gesellschaft and subsequently for La Suisse Assurances in Lausanne. He moved into banking in 1994 when he took a position at UBS in corporate banking for Switzerland's Mittelland region. He then rose through the ranks across all corporate segments to reach his position as Head of Institutional Clients, Switzerland & Global Asset Servicing. On 1 September 2017, he joined BCV’s Executive Board as head of the Corporate Banking Division.


Christian Meixenberger

Christian Meixenberger

Member of the Executive Board with responsibility for the Business Support Division since 1 January 2017

Swiss citizen, born in 1960

Education

Electronic engineering degree, University of Neuchâtel, 1987. MBA, University of Lausanne, 1993

Career experience

Mr. Meixenberger began his career in 1987 at the Swiss Center for Electronics and Microtechnology (CSEM) in Neuchatel as a software engineer. From 1993 to 1997, he worked for Credit Suisse in Geneva, where he was in charge of business processes and IT. In 1997, he became head of IT at Banque Cantonale de Fribourg. He was then appointed to that bank’s Executive Board as head of the Services Division in 2000. He joined BCV on 1 November 2016 and was appointed to the Executive Board as Head of the Business Support Division on 1 January 2017.


Bertrand Sager

Bertrand Sager

CCO, member of the Executive Board with responsibility for the Credit Management Division since 15 February 2010

Swiss citizen, born in 1966

Education

Master of Law from Lausanne University in 1990. Advanced Management Certificate from INSEAD in Fontainebleau in 2007.

Career experience

Mr. Sager began his career at Credit Suisse in 1991, where he was involved in various lending activities. He joined BCV in 1998 and was appointed to lead BCV's Credit Recovery Department in 2003. In this position, he played a key role in strengthening the Bank's balance sheet by reducing the volume of impaired loans. In addition, as a member of the Executive Board's Credit Committee since 2008, he has acquired a thorough understanding of BCV's lending activities. Mr. Sager was named Chief Credit Officer and appointed to the Executive Board with responsibility for the Credit Management Division as of 15 February 2010.

Committees of the Executive Board

Credit Committee

  • Bertrand Sager (Chair)
  • Pascal Kiener
  • José François Sierdo
  • Andreas Diemant
  • Laurent Michel
  • Christian Zünd

The Committee's main roles are to:

  • Submit proposals concerning the Bank's lending policy, technical standards, and rules governing lending authority to the Executive Board for approval by the Board of Directors
  • Make decisions on the granting of lending authority
  • Make decisions regarding the granting and renewing of major lending facilities, within the limits of its powers
  • Monitor the Bank's loan portfolio, particularly the sector breakdown
  • Oversee credit-limit and overdraft management

Risk Management Committee

  • Thomas W. Paulsen (Chair)
  • Pascal Kiener
  • Stefan Bichsel
  • Andreas Diemant
  • Bertrand Sager
  • Maxime Mermier

The Committee's main roles are to:

  • Submit risk management policy and strategy proposals to the Executive Board for approval by the Board of Directors
  • Ensure risk management and control processes are implemented and updated for the entire Bank and for all risk categories
  • Monitor the Bank's overall risk profile
  • Steer all the Bank's risk management projects

Asset and Liabilities Management Committee (ALCO)

  • Pascal Kiener (Chair)
  • Thomas W. Paulsen
  • José François Sierdo
  • Gérard Haeberli
  • Christopher Cherdel
  • Andreas Diemant
  • Michel Aubry
  • Fernando Martins da Silva

The Committee's main roles are to:

  • Examine the banking book’s exposure to interest-rate risk and forex risk, as well as the Bank's exposure to liquidity risk
  • Manage interest-rate risk exposure on the balance sheet
  • Manage the Bank's liquidity and funding

Information Technology Committee

  • Christian Meixenberger (Chair)
  • Pascal Kiener
  • José François Sierdo
  • Thomas W. Paulsen
  • Denys Papeil
  • Serge Messin
  • Nicolas Bersier

The Committee's main roles are to:

  • Submit IT strategy proposals to the Executive Board for approval by the Board of Directors
  • Submit proposals on the budgetary framework and the medium-term plan for high-priority projects
  • Monitor the implementation of IT projects
  • Stay informed about major IT incidents and corrective measures taken

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