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EFG Taps UBS for London Private Banking Head

Stephen Harris, 6 June 2006

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London based private banking arm of Swiss-listed EFG International, EFG Private Bank has appointed Paul O’Donnell as head of Private Banking...

London based private banking arm of Swiss-listed EFG International, EFG Private Bank has appointed Paul O’Donnell as head of Private Banking.

Mr O’Donnell joins from UBS Wealth Management where he was a managing director with overall sales management responsibility for UK, Northern and Eastern European markets.

Prior to joining UBS in 2001, Mr O’Donnell was group business development director of Brewin Dolphin Securities.

Mr O’Donnell succeeds Philip Amphlett, who has held the position since 1997 and who remains with EFG. Mr Amphlett will focus on the development of his client portfolio as well as retaining responsibility for credit and banking product matters as deputy head of Private Banking.

EFG Private Bank is looking to grow quickly, both organically and by acquisition.

“We’re hoping to take on at least 10 new relationship managers by the end of the year, and we’re looking now at some specific acquisitions,” John Williamson, chief executive officer of EFG Private Bank told WealthBriefing.

“We’re also looking more at the UK onshore market as a bigger proportion of our revenue going forward,” he said.

As of March 31 2006, Zurich-based EFG International had assets under management of approximately SFr 52.9 billion ($44 billion) and assets under administration of approximately SFr 6.5 billion.

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