Zurich-based EFG International has recorded inflows across all regions in the first four months of the year with particularly significant contributions from Asia Pacific.
In the first four months of 2024, EFG recorded net new assets (NNA) of 3.6 billion francs ($4 billion), according to an ad hoc announcement. This corresponds to an NNA growth rate of 7.6 percent which is above the bank’s target range of 4-6 percent.
EFG attributed this growth to client relationship officers (CRO) who were recently hired in 2023. It noted that hiring momentum has normalized with the addition of just 26 CROs in the first four months of this year.
Regional Inflows
According to the bank, all of the business regions posted net inflows during the reporting period. Asia Pacific and Latin America were highlighted as two with «particularly strong contributions», though no specific figures were disclosed.
Overall, the bank registered a net profit of 110 million francs in the first four months. Assets under management totaled 157.5 billion francs at end-April – up 11 percent compared to 142.2 billion francs at end-2023 – driven by NNAs, positive foreign exchange impact and favorable market performance.
