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EFG reports huge loss, CFO resigns

EFG International’s earning result today was full of news. The bank announced that its CFO, Rudy van den Steen, has resigned and that it has reported a loss attributable to shareholders of SFr809.8m (US$765.7m) in the first half. That loss was largely due to an impairment change of SFr859.5m for investments made in the hedge fund Marble Bar Asset Management…

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