Greek billionaire family’s EFG says ‘realistic’ to hire 100 wealth bankers

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The Business Times – EFG International is ramping up hiring globally this year with an addition of about 100 wealth bankers a “realistic” number, according to board member Boris Collardi.

“We are hiring very actively,” Collardi told Haslinda Amin in an interview with Bloomberg TV in Singapore on Tuesday (Jul 4). Collardi said the firm has hired about 30 bankers in Asia, in line with EFG’s strategy to expand in Asia, particularly in China and South-east Asia.

EFG, established in 1995 by the Greek billionaire Latsis family, has several hundred million Swiss francs of excess capital for deals, CEO Giorgio Pradelli said in a January interview. Targets will be in key markets that include Singapore, Hong Kong, as well as London and Europe, which are also among the areas where the bank plans to hire, he said at the time.

With the merger of UBS Group and Credit Suisse, Collardi sees everyone “looking for opportunities” and expects market consolidation in the sector to eventually resume. The former chief executive officer of Julius Baer Group advises Zurich-based EFG about a growth strategy in Asia that may include acquisitions.

The Swiss firm is among international wealth firms competing to expand market share in Asia.

Collardi led a period of breakneck expansion through nearly a dozen acquisitions and joint ventures at Julius Baer, before taking a role as partner at Banque Pictet & Cie in 2018. He took the EFG board seat last year, representing the Latsis family, while also buying a 3.5 per cent stake in the firm from board member Spiro J Latsis.

Image by: Reuters

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Edmund Shing, PhD

Global Chief Investment Officer
BNP Paribas Wealth Management

Edmund has over 29 years of experience in financial markets in a wide variety of positions, ranging from proprietary trading to portfolio manager in a number of financial institutions in London and Paris.  He previously held the role of Global Head of Equity and Derivative Strategy at BNP Paribas in London from 2015 to 2020, and has been Chief Investment Officer at BNP Paribas Wealth Management since November 2020.

Edmund is responsible for piloting our investment strategy and will continues to rollout out recommendations and themes with actionable advice that brings our expertise to our clients and support to our client-facing teams.  In this time of change, his expertise in following and anticipating markets is a true value added for both our customers and those at Wealth Management who serve them.

Edmund has a PhD in Cognitive and Computing Science from the University of Birmingham in the United Kingdom, and has done advanced studies in Knowledge-Based Systems and in Experimental Psychology.  He is an EFFAS-certified financial analyst. He has also authored the book “The Idle Investor” published by Harriman House in 2015, proposing 3 simple investment strategies that take only a few minutes to execute per month.

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