Board of Directors of PostFinance Ltd elected

Swiss Post's Board of Directors has nominated the seven members of the Board of Directors for the future PostFinance Ltd on behalf of the General Meeting of PostFinance Ltd of 1 October 2012, which held the vote. Commercial lawyer Prof. Dr Rolf Watter has been nominated as Board Chairman, and Dr Michaela Troyanov and Dr Patrick Frost have also been appointed to the Board of Directors. The representatives nominated from Swiss Post are its Board members Dr Marco Durrer and Adriano P. Vassalli, CEO Susanne Ruoff and CFO Pascal Koradi.

PostFinance to be spun off in second quarter of 2013
PostFinance's transformation and spin off into a public limited company under private law, PostFinance Ltd, will take place following a Federal Council resolution expected in the second quarter of 2013, and will be completed retroactively from 1 January 2013. PostFinance will be run and supervised by Swiss Post's governing bodies until the transformation takes place. The aim is to capitalise on the newly acquired expertise of the future PostFinance Ltd's supervisory board right from the transition phase.

PostFinance still owned by Swiss Post
In its new form as a public limited company, PostFinance will continue to be owned by Swiss Post and will go on investing client funds with quality and sustainability in mind. PostFinance will be subject to supervision by FINMA, which underscores its importance as a leading Swiss retail financial institution. Operationally, it will continue to be run by its own executive management team, which will independently report to the nominated Board of Directors. PostFinance is expected to receive a banking licence once it becomes subject to FINMA supervision. FINMA's licensing procedure with respect to the submitted application is underway.

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