In a year riddled with rampant market volatility, pure play private banks’ proposition of independent wealth management were severely put to the test. Among other things, 2015 proved a critical year to showcase truly open architecture platforms and a commitment to the preservation and protection of wealth.
EFG Bank’s accolades in 2015 did the family of pure play private banks proud after making laudable strides toward growing its fee-based business in both funds and discretionary portfolio management, signifying strengthening relationships in the region.
This is in addition to its already established transactional business which continued to deliver timely and significant solutions in a trying year.
Perhaps most impressive was the efficiency in which EFG made its achievements in Asia in 2015. Amid an industry that is swelling its expense column due to a growing list of costs in product specialists, compliance staff, IT developments and more, EFG maintained a notably low cost-income ratio while sustaining high productivity.
This was made possible by a roster of seasoned veterans whose retention has been made the forefront of all priorities. The bank’s efforts in this area did not go unnoticed as it saw a negligible number of relationship managers leave over the last two years.
EFG Bank has proven its mettle for the above reasons and more and is deservedly the winner of the Asian Private Banker 2015 Best Private Bank – Pure Play Award.