Additionally, Joseph Wolf, has been named CEO of EFG wealth management (Israel), who will report to Franco Polloni, head of EFG’s Switzerland & Italy region.

EFG has opened a new financial service office in Tel Aviv to expand its presence in the Israeli market and provide investment marketing services to clients in the region.

The office, which has been operational since 10 September 2023, aims to take advantage of the wealth management opportunities in the market by utilising its local knowledge and investment expertise.

The financial service office is being opened after the successful establishment of EFG’s representative office led by Ran Heistein.

Both offices will operate together and serve the growing Israeli wealth management market with the help of Dan Sagui, who is in charge of EFG’s business activities in Israel.

Wolf will be collaborating with Michael Dadoun who has been hired as head of private banking Israel at EFG.

Before joining EFG, Wolf was the CEO of Credit Suisse Israel and held various management positions in research at Barclays, UBS, and Bank of America in both Israel and the United States.

He began his career in 1998 at UBS in New York and has an MBA in Finance from Columbia University.

Furthermore, Dadoun previously served at UBS wealth management and Bank of America Merrill Lynch in Tel Aviv and the UK.

Together they will be leading a team of specialists, including three client relationship officers and one investment counsellor.

Franco Polloni, head of Switzerland & Italy Region of EFG: “The expansion of our presence in Israel with the opening of a Financial Service Office and the hiring of a highly experienced local team will enable us to further accelerate our growth in this attractive region. I am very pleased to welcome Joseph Wolf, Michael Dadoun and the entire team to EFG and I am convinced that together with Dan Sagui and Ran Heistein, they will successfully drive the further expansion of our business in Israel.”