EFG International (EFGN.S), a Swiss private banking group, has announced its acquisition of Quilvest Switzerland Ltd, a private bank with significant connections to Latin America. EFG International specialises in private banking and asset management services, offering tailored solutions to both private clients and external asset managers. The acquisition is poised to bolster EFG’s presence in key regions.
Quilvest Switzerland currently manages approximately 5.3 billion Swiss francs (AU$6.82 billion) in client assets. This includes 3.9 billion francs in assets under management and 1.4 billion francs held in custody. Founded in 1932 by the Bemberg family of Argentina, Quilvest Switzerland is wholly owned by Bemberg Capital, a Luxembourg-based holding company of the family.
According to EFG’s CEO, Giorgio Pradelli, the company anticipates a fruitful partnership with the Bemberg family and looks forward to integrating the Quilvest Switzerland team. He noted that this will enhance EFG’s growth strategy across Switzerland, the Middle East, and the Americas. EFG International provides private banking and asset management services, offering tailored solutions to private clients and external asset managers.
The acquisition, which is subject to regulatory approval, is expected to close in the third quarter of 2026. EFG will acquire all shares of Quilvest Switzerland for cash. The purchase is projected to decrease EFG’s Common Equity Tier 1 (CET1) capital ratio by approximately 70 basis points.
