EFG continues to spin off businesses, financial products latest casualty

1 March 2012 | 2 minutes read

After declaring a net loss of CHF294 million (US$268 million) loss for 2011, boutique Swiss bank EFG International has embarked on an aggressive strategy to hive off unprofitable and non-core businesses. The latest casualty of this strategy is EFG Financial Products. The bank is looking to reduce its stake from 57% to 20%, exiting via an IPO. Partners in EFG…

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