EFG Reports Growth in Client Assets, Relationship Managers

Contributing Editor

2 May 2006

EFG International reported an 11.8 per cent quarter-on-quarter growth to SFr52.9 billion ($42.6 billion) in client assets during the first quarter of the year. The bank also said the number of relationship managers rose by 29 to 297 in the first quarter of the year. The Zurich-based bank said the AUM figure included its own shares not listed on the Swiss stock exchange and loans to clients. Taking these items out, AUMs were around SFr49.2 billion. Excluding the impact of the acquisition of Capital Management Advisors, AUMs increased by approximately SFr3.5 billion during the first quarter 2006, the bank said. The bank added in a statement that it continues to look for acquisition opportunities, but gave no further details.