EFG private bank has several hundred million francs in excess capital available for transactions. Expansion in Asia is a strategic priority, and board member Boris Collardi's network of contacts is invaluable for growth plans in the region.

Boris Collardi caused a stir in the Swiss banking scene last year when he joined EFG International in April and took a 3.6 percent stake in the Swiss private bank, and joined its board of directors at the end of the year. The former Pictet partner and Julius Baer CEO is well connected with the very growth-oriented financial institutions he wants to work with to expand the business.

How he will contribute to EFG is now becoming increasingly clear. Collardi is taking on a task intended for him at Pictet which is to expand the business in  Asia, as CEO Giorgio Pradelli told «Bloomberg» (behind payall) in an interview.

Targeting Multiple Markets

Collardi is expected to play an advisory role in the bank's growth, with Asia's growth market a strategic priority.

The Zurich-based company has several hundred million francs in excess capital available for transactions, he said. Target markets include Hong Kong, as well as London and Europe, where the bank is also looking to expand its staff. «If we could do acquisitions in Singapore or Hong Kong, we’d love to do that,» Pradelli said.

EFG International, founded in 1995 by the Greek billionaire Latsis family, is among international wealth managers looking to expand market share in Asia. The private bank already does substantial business there, which will receive further impetus thanks to Collardi's excellent network of relationships.

According to a ranking by the online portal «Asian Private Banker», EFG International ranks 20th among the largest wealth managers in Asia, excluding China, behind UBS and Credit Suisse.

Ambitious Expansion Plans

Collardi has already visited Hong Kong this year. His connections with clients in Asia have proven helpful to the bank, «Bloomberg» reports quoting Albert Chiu, head of EFG's Asia Pacific division.

Under its current three-year plan running through 2025, EFG aims to hire 50 to 70 bankers globally each year, Pradelli added. The bank is targeting experienced private bankers who manage large amounts of client assets, he said.