EFG Bank
Origin of EFG Bank
EFG was established 1995 in Zurich by two entrepreneurs with a great experience in private banking.
EFG International is a global private banking group based in Zurich that provides private banking and asset management services. The private banks, which are affiliated with EFG International, operate worldwide with around 3,750 employees at around 40 locations.
EFG’s shares are listed on the SIX Swiss Exchange. In 2017 EFG completed the integration of BSI, a Lugano based private bank with a long history and tradition.
The largest shareholders of EFG International are EFG Bank European Financial Group with a 43.8 % stake and BTG Pactual with a 27.8 % stake.
EFG International has strong roots in Switzerland with Zurich, Geneva, and Lugano serving as key hubs for the bank’s governance and operation. The international network is spanning from Europe, Asia Pacific, the Americas to the Middle East.
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Philosophy and Strategy
EFG International is a financial partner that offers solidity and security. Since the establishment in 1995, EFG has an entrepreneurial spirit that shapes the bank. EFG builds long-lasting client relationships and develops hands-on solutions.
Through the integration of BSI, EFG has significantly increased its size and scale of its business and is now one of the largest private banks in Switzerland.
EFG has a can-do mentality. The can-do mentality reflects the philosophy that exists in today’s private banking. The rapidly changing economic and market conditions, as well as the scenarios and strategies in wealth management, must continuously be challenged and reviewed. The clients more and more consider it important to have straightforward and pragmatic banking partner. EFG has an entrepreneurial spirit and offers unique private banking. EFG is a long-term partner to their clients. By industry standards, the Client Relationship Managers stay for a long time with the bank. EFG assist their clients successfully in all wealth management matters through every stage of their life. The service is familiar, professional and personal.
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Services and Solutions
EFG offers its clients comprehensive private banking services.
Individual Clients
The investment solutions EFG provides to their clients are asset management mandates, advisory services, investment funds, third-party funds, structured products, alternative investment, and trading services.
The wealth solutions EFG offers are fund services, wealth planning, pension products, and art advisory. EFG has a team of specialists to structure the client’s wealth.
EFG is also a respected partner for property finance and investment finance.
Other banking services are accounts and cards, custody services, treasury and foreign exchange and client reporting.
Business clients
EFG aims to build successful long-term relationships.
The investment advisory contains investment funds, structured products, alternative investments, trading services, and research.
Wealth solutions include wealth planning, pension products, and fund services.
Property finance services are offered in a number of markets as an add-on to the private banking service.
Investment finance is a flexible financing solution. EFG offers a range of facilities that help construct investment portfolios. The portfolios are secured against the lending value of the client’s portfolio.
The main facilities are overdrafts and fixed advances.
Independent Asset Managers
EFG offers periodically training sessions to help Independent Assets Managers cope with administrative and compliance obligations. The bank also issues specific newsletters to keep up to date with the most important changes in the legal framework.
Commercial Banking
EFG offers advice and support in strategic and operational aspects of the business activities. Specialists provide the most suitable solutions that best fit with the client’s desires and needs.
Risk Management
EFG has a strong focus on risk management and compliance, and this will increase the confidence in the bank and improve the market position.
The Risk Management Committee is the primary advisory committee to the Board of Directors on matters relating to risk and compliance. The Risk Committee is proposing the risk management framework and advises the Board accordingly. It also monitors the risk profile and reports on the state of risks culture within the Group. The Risk Committee also oversees the strategy for capital and liquidity management as well as the management of the relevant risks of the Group like the credit risk, the market risk, the liquidity risk, the operational risk, and the reputational risk.
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Added-Value Services
EFG International employs 644 client relationship officers worldwide. The bank has a market capitalization of 2.984 billion CHF.
EFG has a Group-wide IT system, which allows them to provide clients with high-quality products and services.
Despite the integration process throughout 2017 and the heightened associated resources, EFG improved its underlying profitability. The operating income reached 1,202 billion CHF, compared to 762.7 million CHF in 2016. Operating expenses reached 1.033 billion CHF in 2017.
The net profit of 165 million CHF doesn’t include 134.1 million CHF of costs relating to the integration of BSI, 38.4 million CHF negative impact from the life insurance portfolio, 30.1 million CHF from unwinding of hedged life insurance exposure and 15.8 million CHF of exceptional legal costs. These factors led to an IFRS net loss of 59.8 million CHF.
The average assets under management per CRO reached 237 million CHF. EFG has a strong and liquid balance sheet with the Liquidity Ratio at 209 % and the Loan/Deposit ratio at 52 %.
EFG supports a variety of partners in society. Some of the sponsored events are Classic Cars, EFG Hong Kong ladies open, Southbank Sinfonia, EFG London Jazz festival, and the Peggy Guggenheim Collection.
EFG’s eBanking system provides secure and quick access to the client’s finances. The leading edge technology and the strict security policy make the system very secure for the customer.
EFG Bank – Facts & Figures
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| Address | Bleicherweg 8, 8001 Zurich |
|---|---|
| Phone | +41 44 226 18 50 |
| Website | www.efginternational.com |
| Year of foundation | 1995 |
| Subsidiaries | 43 |
| No. of employees | 2’932 |
| Rating | Fitch A / Moody’s A3 |
| Chairman | Peter A. Fanconi |
| CEO | Giorgio Pradelli |
| Eligible Regulatory Capital | 2.171 bn CHF |
| Tier 1 Ratio | 20.10 % |
| Leverage Exposure | 43.400 bn CHF |
| Leverage Ratio | 4.60 % |
| Liquidity Coverage Ratio | 191 % |
| Risk Weighted Assets | 9.918 bn CHF |
| Loans outstanding | 18.225 bn CHF |
| Assets under Management | 172.0 bn CHF |
| Assets under Management / Employees | 58.663 m CHF |
| Net profit | 213.9 m CHF |
| Net Profit / Employees | 72’953 CHF |
| Cost / Income Cost Ratio (CIR) | 86.20 % |
| Return on Equity | 9.33 % |
| Own structured products | Yes |
| Foreigners accepted | Yes |
| Presence abroad | Group: Europe, Asia Pacific, Americas, Middle East |
Source: Annual Report 2021
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