- EFG International
EFG International is a global private banking group, which offers
private banking andasset management services. EFG International’s group of private banking businesses currently operates in 50 locations in 30 countries, employing approximately 1800 staff of which 564 are private bankers (EFG calls these Client Relations Officers, or CROs).History
EFG International was formed in 1995 by Jean Pierre Cuoni and Lawrence D. Howell, with the support of the
Latsis family . They believed that thebanking industry was not delivering what wealthy clients were entitled to expect, as a result they created a business model based on empowering CROs to serve their clients as they see fit. The business was established as the Zurich branch of EFG European Financial Group. In October 2005, EFG International became a publicly listed company. Since its inception, EFG International has had an unbroken record of growth innet profit andassets under management . EFG Interntional is an active acquirer, having made over 20 acqusitions since its inception.Structure
EFG Group is EFG International’s parent company. As at end 2007 it held 48.7% of EFG International’s capital and was the largest
shareholder . EFG Group was the third largest Swiss-based banking group measured by shareholders equity as at end 2007. Approximately 31% of EFG International`s capital is owned by outside shareholders, the rest is held by management and CROs.EFG Bank is EFG International’s main Swiss
private banking subsidiary. EFG Bank is headquartered in Zurich, its main operatinghub is in Geneva, and it has branches and representative offices across Europe, the Middle East, Asia and the Americas.Performance
Financial performance as at end 2007:
*Operating revenue: CHF 913.8 million (up 44%)
*Net profit : CHF 332.0 million (up 44%)
*Clients'Assets under Management: CHF 98.3 billion (up 34%)Executive committee
*Lonnie Howell, Chief Executive Officer
*James T. H. Lee, Deputy Chief Executive Officer
*Rudy van den Steen, Chief Financial Officer
*Keith Gapp, Head of Strategic Marketing & Communications
*Fred Link, Group General Counsel
*Erik Stroet, Chief Operating Officer [EFG International annual report 2007] All facts are taken from EFG:s annual report 2007References
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