A group of leading European banks and insurers announces today the formation of the European Round Table of Financial Services (EFR). The members of EFR will be Chairmen or Chief Executives of leading European financial institutions.
LEADING EUROPEAN BANKS AND INSURERS FORM PAN-EUROPEAN ROUND TABLE OF FINANCIAL SERVICES
A group of leading European banks and insurers announces today the formation of the European Round Table of Financial Services (EFR). The members of EFR will be Chairmen or Chief Executives of leading European financial institutions.
The purpose of EFR is to provide a strong industry voice on European policy issues relating to financial services. The initial objective will be to support the completion of the single market in financial services. Members of the EFR believe that creating free competition on a level playing field - with fully harmonised regulations and a single capital market - will bring substantial benefits to customers including increased competition and greater innovation. These benefits will help to drive down prices and deliver a wider and better choice of financial products to customers.
The founding members of EFR include:
| M. Claude Bébéar | AXA |
| Dr. Rolf E. Breuer | Deutsche Bank AG |
| Mr. Hans Dalborg | Nordea |
| Dott. Alfonso Desiata | Assicurazioni Generali SpA |
| Mr. Rijkman Groenink | ABN-AMRO Bank N.V. |
| Mr. Pehr Gyllenhammar | CGNU plc |
| Sir George Mathewson | Royal Bank of Scotland plc |
| M. Michel Pébereau | BNP Paribas |
| Mr. Alessandro Profumo | UniCredito Italiano S.p.A. |
| Dr. Henning Schulte-Noelle | Allianz AG |
| Mr. Kees .J. Storm | AEGON N.V. |
| Mr. Anton van Rossum | Fortis |
Further members will be invited to join. EFR will ensure that it does not duplicate the work of the existing national and European industry associations.
Pehr Gyllenhammar has been elected the first Chairman of EFR by its members. He said, "The European Round Table of Financial Services brings together industry leaders from several countries. We are all convinced of the importance of supporting the completion of the Single Market in Financial Services which will bring substantial benefits for consumers by promoting competition and consumer choice. We are looking forward to working constructively with the European Commission, the European Parliament and national governments to support initiatives which will bring practical benefits."
Ends
Enquiries:
| Pehr Gyllenhammar | +44 (0) 20 7269 7107 |