EFG International AG plans to expand in Asia with the help of former Banque Pictet & Cie partner Boris Collardi, CEO Giorgio Pradelli said. Know more:
EFG International AG plans to expand in Asia with the help of former Banque Pictet & Cie partner Boris Collardi, CEO Giorgio Pradelli said.
The Zurich-based firm has several hundred million Swiss francs of excess capital for deals, Pradelli said in an interview in Singapore. Targets will be in key markets that include the city state, Hong Kong, as well as London and Europe, which are also among the areas where the bank plans to add headcount, he said.EFG, established in 1995 by the Greek billionaire family, is among international wealth firms competing to expand market share in Asia.
As Julius Baer CEO, Collardi led a period of breakneck expansion through nearly a dozen acquisitions and joint ventures. That later sparked investigations into how well the bank vetted its clients and monitored their business activities. In 2018, he became the first outsider in almost two decades to join Pictet as a partner.
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