We believe that prudent management is key to not only honoring our commitment to acting with integrity but also ensuring the success of our firm. Our rigorous adherence to international best practices and global standards of governance has allowed us to successfully establish ourselves as a global financial services corporation known for guarding our clients’ assets as if they were our own.
EFG Holding’s commitment to strong corporate governance has allowed us to build a reputation for market leadership and maintain the loyalty of our client base as we have launched new products and expanded into new and exciting territories.
EFG Holding’s Board of Directors is comprised of 12 members, 11 of whom are Non-Executive members. The Board is responsible for providing the Firm with strategic leadership, financial soundness, governance, and management supervision and control.
The Board has established 5 committees to enhance its effectiveness in fulfilling its oversight responsibilities and to ensure the effective implementation of governance standards and best practices.
Each committee supports the Board by providing detailed recommendations to facilitate informed decision-making. Each committee operates under a defined charter, outlining its purpose, scope, authority, responsibilities, quorum requirements, and voting procedures. Non-executive Board members chair all committees.
The Audit Committee comprises of five Non-Executive Board members and is chaired by an Independent Board member.The Committee meets once per quarter or as needed to oversee financial statements and financial reporting, internal control and governance systems, compliance with laws and regulations, whistleblowing and fraud concerns, the internal audit function. The Committee oversees Internal Audit's independence, approves its plan and resources, and holds it accountable for results. The Committee ensures free and open communication between its members, internal auditors, management, and the external auditor. The Committee receives periodic updates from the Chief Information Officer on IT corporate governance and controls.
The Audit Committee recommends to the Board the appointment, reappointment, or change of the External Auditor which is subsequently submitted to the Ordinary General Assembly for shareholders’ approval, in accordance with applicable laws and regulatory requirements.
The Committee is also responsible for periodically evaluating the Group’s corporate governance structure, reviewing and monitoring the implementation of the company’s corporate governance framework, documenting and following up on the board’s performance evaluation reports, reviewing regulators’ observations related to the implementation of corporate governance, and ensuring that such observations are appropriately addressed.
The Risk Committee comprises of five Non-Executive Board members who meet at least once per quarter to oversee, risk, legal, and operational issues across the Group. The Committee advises the Board on risk appetite and tolerance in accordance with the Group’s strategic objectives as well as on risks associated with strategic acquisitions or disposals. EFG Holding’s Risk Committee also reviews comprehensive reporting on Group Enterprise Risk Management, including reports on credit, investment, market, liquidity and operational risks, business continuity, and regulatory compliance.
The Committee receives periodic updates from the Chief Information Officer and the Chief Information Security Officer on Information Technology and Information Security risks across the following areas: People; Process; and Technology.
EFG Holding’s Remuneration and Compensation Committee comprises of five Non-Executive Board members and is chaired by an Independent Board member. The Committee meets once annually to study compensation within the Group as a whole to safeguard shareholder interest and ensure that management’s interests are fully aligned with the Firm. The Committee also directly manages the allocations within the Management Incentive Scheme for Senior Management as approved by the General Assembly.
The Nomination Committee comprises of five Non-Executive Board members and is chaired by an Independent Board member. The Committee meets once annually. It assesses the adequacy of the size of the Board and recommends the appointment of Board members, the Group CEO, and senior executive, ensuring alignment with the Group’s strategic directives. Additionally, the committee ensures the independence of independent Board members in accordance with applicable laws, regulations, and international best practices. The committee regularly assesses the structure, size, and composition of key executive positions at the Group as well as the overall corporate governance framework. The Committee helps ensure a smooth succession of Board members and where appropriate, Group CEO and Group Executive Committee members. The Committee also reviews senior management appointment policies and provides recommendations arising from Board self-evaluations.
The Information Technology Committee comprises of four Non-Executive Board members and is chaired by an Independent Board member. The Committee meets monthly, or more frequently as required, to provide oversight of the Group’s technology, digital, and information security strategy. Its mandate includes major technology investments and budgets, innovation initiatives, artificial intelligence and emerging technologies, cybersecurity, operational resilience, and compliance with applicable technology, data protection, and information security regulations.
The Committee fosters open and effective communication between its members, senior management, and technology and information security leadership. It receives regular updates from the Chief Information Officer on technology governance, performance, key risks, strategic initiatives, and the responsible adoption of artificial intelligence and emerging technologies.
In fulfilling its responsibilities, the Committee reviews key technology and information security risks, monitors remediation and resilience plans, and evaluates innovation opportunities and the strategic value of artificial intelligence and emerging technologies.
The Committee provides guidance and makes recommendations to the Board on matters within its remit.
The Executive Committee consists of seven Senior Executive members representing all divisions of the Firm. The Committee manages the Group’s day-to-day operations, implements the Board’s policy decisions, executes the Group strategy as approved by the Board and oversees the Group’s risk management framework, structures, and policies.
The Executive committee receives periodic updates from the Chief Information Officer and the Chief Information Security Officer on Information Technology and Information Security strategy objectives with a focus on the key pillars of People; Process; and Technology.
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