EFG has leased seven floors of a nine-storey office block currently under construction opposite Parliament House in Singapore. EFG Bank Singapore managing director Kees Stoute said: “The new premises will meet the expansion needs of the bank. The 52,000 square feet we’re taking in the new building is more than three times the size of our existing premises.” EFG has naming rights for the building, which is expected to be ready in the first quarter of 2009. The lease is believed to be for an initial term of six years, with an option to renew for a further three years. EFG has a headcount of 105 in Singapore, of which 56 are client relationship officers. Across Asia, the business maintained the strong progress of recent years in 2007, with income growing by over 50 per cent and CROs increasing by more than a third.