EFG International and Falcon Private Bank have concluded a referral of Falcon’s Hong Kong based clients following their exit from the market.
A majority of Falcon’s assets under management (AuM), currently valued at around CHF 800 million, will transfer to EFG. In addition, a number of staff will also move to EFG International’s business in Asia.
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As of June 2013, EFG Bank accounted for ninety-nine client relationship officers and held AuM of CHF 14.8 billion.
Albert Chiu, chief executive of EFG International in Asia, said: "We are looking forward to welcoming new clients and growing our business in Asia, alongside our new colleagues who share the same level of dedication and expertise."
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