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News release
Friday, 25 September, 2020

SEBA Bank appoints Päivi Rekonen as Chair to its Board of Directors

Päivi Rekonen joins SEBA Bank as Chair to the Board of Directors with immediate effect taking over from Sébastien Mérillat, Chair ad interim. The Board of Directors is further strengthened with the appointment of Hans Kuhn and Sanjeev Karkhanis.

Zug, 25 September 2020 – SEBA Bank, a FINMA licensed Swiss Bank providing a seamless, secure and easy-to-use bridge between digital and traditional assets, announces changes to its Board of Directors. The General Assembly agreed to a new strategic leadership, and appointed today three new independent members to the Board of Directors. Päivi Rekonen is joining SEBA Bank as the Chair to the Board of Directors. She is a seasoned banking, digital and technology professional who held positions at UBS, Credit Suisse, Cisco and Adecco. Hans Kuhn, renowned law expert especially in digital, fintech, crypto and blockchain law, and Sanjeev Karkhanis, experienced senior leader in Financial Risk Management, also join the Board of Directors to complete the strategic leadership of SEBA Bank.

Päivi Rekonen brings experience from big corporates as well as from software startups
Mrs Päivi Rekonen is a seasoned banking and technology professional. Her international career has been shaped by senior functions at a number of the world’s largest technology companies combined with technology transformation and digitalisation experience at UBS, Credit Suisse and Adecco. The Board of Directors recommends Päivi to assume the Chair of SEBA’s Board of Directors and lead the change necessary to drive the bank’s business on the next level. In addition, her board experience with both software startups and publicly listed companies is also a distinct positive in terms of guidance for the executive committee. Mrs Rekonen is a Swiss resident with an in-depth understanding of local culture and business practices.

Hans Kuhn will provide his expert regulatory knowledge Hans Kuhn is also a newly appointed independent member of the Board of Directors who joins with immediate effect. As a renowned digital law expert, Hans Kuhn is shaping the digital ecosystem in Switzerland. He is very active in the field of blockchain and gained his unique expertise in years of practical regulatory experience, culminating as the General Counsel of the Swiss National Bank. His broad law knowledge involves the field of public and private banking law and banking regulation, fintech- and crypto-/blockchain law, Swiss and European financial market law, securities law and secured transactions, as well as in international private and business law. Hans Kuhn has been an independent attorney since 2014 and is a member of various legislative commissions.

Sanjeev Karkhanis will share his outstanding international experience
Sanjeev Karkhanis is an experienced senior leader in Financial Risk Management, having spent his career working collaboratively with investors generating new investment opportunities, reducing risk and delivering impactful growth. As Group Managing Director at UBS he played a pivotal role in the Global Ultra Wealth Management business, providing senior client coverage and leadership in cross-divisional collaboration to grow client franchise for APAC clients including Global Family offices and technology-based new economy clients in China. He will join the Board on 1 January 2021.

“The Board of Directors is pleased to announce the appointment of three new independent members to the board who bring a breadth of experience and skills to continue to support SEBA Bank on its journey. The great dynamics in technology and finance that are ingrained in our industry constantly require new knowledge which we assure for SEBA Bank through the appointment of Päivi Rekonen, Hans Kuhn and Sanjeev Karkhanis,” said Sébastien Mérillat, Chair a.i. of the Board.

Farewell to three members of the Board of Directors
Following members of the Board, Erich Ettlin and Urs Zulauf (after EGM), and Reto Kunz (around year-end), who have successfully helped to establish SEBA Bank as one of the leading digital banks in Switzerland, have decided to step down from the Board to concentrate on other mandates.

Sébastien Mérillat, Chair ad interim of the Board said: “On behalf of the Board of Directors, I want to extend our gratitude to Erich Ettlin, Urs Zulauf and Reto Kunz for their work for SEBA Bank. We wish them all the best for their future endeavors.”

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