Swiss-owned London-based private bank EFG International is selling its stake in Marble Bar Asset Management to MBAM’s senior management, in exchange for a perpetual income stream based on future MBAM revenues.

EFG International will receive 15 per cent of MBAM’s management fee revenues and 5 per cent of its performance fee revenues with some additional payments contingent on medium- and long-term business performance.

The deal follows a strategic review by EFG International and an approach by MBAM's leadership team. EFG International expects to record neither a gain nor a loss and the transaction will have no impact on EFG International’s capital ratios.

The two parties will continue to collaborate in product terms, with EFG International retaining the ability to access MBAM's funds on behalf of its clients.

EFG International’s strategic focus is now as a pure-play wealth manager, encompassing global private banking and closely related asset management activities in the form of EFG Asset Management, covering traditional long-only investments, funds of hedge funds selection, and structured products.