WealthBriefing has learnt that a number of private bankers have joined EFG International after having departed Lloyds TSB International Private Banking.

Last week it emerged that a 20-strong private banking team with responsibility for the Latin American market had left Lloyds TSB's Miami operation.  Although it was originally thought that the team made up the company’s entire coverage of the region, Lloyds TSB Private Banking told WealthBriefing that the departed members of staff only made up a small part of the Latin American banking team.

When contacted by EFG was only able to confirm that “a number of client relationship officers and other staff have joined EFG Capital in Miami.”

While the appointments are undoubtedly a coup for EFG, the firm has also made significant inroads into other markets recently.

Earlier this month, EFG named Glen Brown as chief executive of EFG Wealth Management Canada against a background of expansion in the country.  The firm is now operational in Montreal, adding to its existing offices in Toronto and Vancouver, and is also engaged in an ongoing drive to recruit client relationship officers nationally.

In addition to its growth in Canada, EFG has also made advances in the Caribbean region, opening a new office in Bahamas, along with obtaining a banking licence in the Cayman Islands in September.

EFG International is headquartered in Zurich and offers private banking and asset management services across 30 countries.  At the end of June EFG International’s clients’ assets under management stood at SFr99.4 billion ($82.2 billion).

EFG International is part of the EFG Group, which in terms of Tier-1 capital is Switzerland’s third-largest banking group.