Best Private Bank Intermediaries
EFG Bank AG
Best Private Bank – Intermediaries
Albert Chiu
executive chairman, Asia Pacific
“EFG thanks APB for naming us as the Best Private Bank – Intermediaries. This industry recognition is a testament to our exceptional position among private banks in Asia, with our distinctive entrepreneurial spirit embedded in our unique client relationship officers (CROs) model.
“Our skilled and experienced CROs are empowered to build long-lasting relationships with clients, even as their needs, geographic location, or wealth level changes. All of this has contributed to EFG’s continued growth, even during turbulent times.
“At EFG, our clients are at the heart of everything we do, and we will strive to grow continuously together with them.”
What was behind the judges’ decision?
- EFG’s introduction of a new operating system with third-party pricing tools and the Bloomberg module significantly enhances efficiency and transparency for IAMs, streamlining investment processes and enabling real-time access to critical tools. By cutting down on time-consuming tasks and increasing efficiency, EFG helps IAMs to make better-informed decisions.
- The bank’s expansion into the UAE and its investment in talent acquisition, leading to a significant growth in IAM revenues and a solid geographic footprint in Greater China, demonstrates its commitment to growth in key markets.
- EFG’s ability to attract and maintain a sophisticated clientele across Asia and the Middle East reflects its strong client relationship management. The bank offers tailored solutions and personalised services that have fuelled revenue and asset growth. EFG has also launched the third vintage of its private equity product, further enhancing its offerings and catering to the evolving needs of IAMs and clients.
What we said…
“EFG has demonstrated commitment to enhancing its independent asset manager (IAM) business, with a sharp focus on digital innovation, talent acquisition, and geographical expansion,” said Audrey Raj, senior consultant, South Asia editor of Asian Private Banker. “The new operating system, with real-time third-party pricing tools and a Bloomberg module, has streamlined the IAM investment process, enhancing efficiency and transparency.
“This technological advancement has contributed significantly to the year-over-year growth in IAM revenues and a substantial expansion in headcount, particularly in Greater China and the UAE, indicating a growing demand for IAM services.
“What’s more, the bank’s commitment to delivering tailored investment solutions, along with personalised client services, has attracted clientele across Asia and the Middle East, further solidifying EFG’s position as a significant player in the intermediaries space. The revenue growth, coupled with a healthy increase in assets and record net new asset inflows, reflects the bank’s competitive advantage and operational excellence. For these reasons, the judging panel recognised EFG as the Best Private Bank – Intermediaries. Kudos to the team.”
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