EFG Private Bank has launched its Independent Asset Management (IAM) platform in London for the UK market.
EFG Private Bank is the UK branch of Swiss-based EFG International, which has an established global IAM business. The UK addition will bring support for wealth managers and independent advisers with the ability to manager orders, book in the UK, offer a product range and streamline the account opening process.
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Ian Wright, the head of independent asset managers UK, will manage the IAM team. He has spent 25 years in the industry, and 12 with the IAM business. Wright will report to head of private banking UK Michael Vlahovic.
“We are delighted to be launching our IAM Desk, further expanding the services we offer to independent asset managers and their clients and reinforcing EFG’s commitment to growth and investment in the UK,” Vlahovic said.
“There is a real gap in the market for a premium IAM service, particularly as we continue to see healthy growth in the number of entrepreneurial multi-family offices and wealth managers looking for private banks such as EFG to serve their sophisticated client base.”
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EFG Private Bank has been based in the UK since 1989 with offices in London and Birmingham. EFG International holds 40 global locations.
Daniel Ioannis Zürcher, global head of IAM, said: “We are already strongly positioned in the IAM segment, particularly in Switzerland, continental Europe, LatAm and Asia. At the same time, we see further growth potential in international IAM markets such as the UK.
“Our ability to leverage the group’s strong track record and IAM expertise means that we are well positioned to offer the IAMs and the related clients a strong and differentiated service offering. Launching an IAM offering in London marks an important step in line with our overall strategy. The team is excited about the opportunity ahead.”
This story was originally written for our sister publication, Portfolio Adviser
