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EFG International is expanding its private banking operations with a new hub for Asian assets in London and the appointment of Soha Nashaat as Executive Chair in Dubai. This strategic move aims to address growing geopolitical tensions and the shift of wealth flows, particularly from Asian investors seeking alternatives to the US market. The London team, led by Oliver Balmelli, aims to manage three billion Swiss francs in assets within three years.
EFG International is establishing an Asia desk in London to cater to affluent Asian clients shifting assets from the US amid geopolitical changes. Led by Oliver Balmelli, the new team aims to grow to ten members and manage around 3 billion francs in client assets, capitalizing on the increasing demand for safe havens in Europe.
Swiss private bank EFG International is establishing an Asia desk in London to cater to wealthy Asian clients relocating their assets from the US amid global financial and political turbulence. The new team, led by Oliver Balmelli, aims to grow to ten members and is expected to manage significant client assets, reflecting a trend of Asian investors diversifying into Europe. Other Swiss banks have also expanded their Asian desks in response to this demand.
Swiss private bank EFG is establishing a London team to attract wealthy Asian clients seeking to diversify their investments amid rising geopolitical tensions and the US trade war. The new team, led by Oliver Balmelli, aims to capitalize on London's status as a key wealth management hub, targeting approximately SFr3bn in assets within three years. This move follows a trend of banks enhancing their presence in London, despite challenges posed by Brexit.
Oliver Balmelli
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