EFG Bank, the Asia arm of Swiss private banking group EFG’s international business, has opened the Shanghai representative office announced last August, following regulatory approval. The move is part of continued geographical expansion by EFG.

The chief representative is Clement Lin, who was most recently head of the Taiwan desk at Citi Private Banking Shanghai and before that in charge of high net worth individual wealth management in China at HSBC Private Bank (Suisse).

EFG Bank says it is committed to becoming a leader in Asian private banking, and has “ambitious plans” for China. It sees its representative office in Shanghai as an initial step, which will help with identifying development opportunities in this market.

EFG is certainly active at present across the globe: it opened an office in Denmark last week and has also rebranded in France this year as it looks to raise its profile and expand the business.