ZURICH, Jan 26 (Reuters) - Swiss private bank EFG International said on Monday it would acquire Quilvest Switzerland Ltd, a Swiss private bank with longstanding ties to Latin America. Quilvest
EFG International to Acquire Quilvest Switzerland in Strategic Move
EFG International's Strategic Acquisition
ZURICH, Jan 26 (Reuters) - Swiss private bank EFG International said on Monday it would acquire Quilvest Switzerland Ltd, a Swiss private bank with longstanding ties to Latin America.
Quilvest Switzerland has approximately 5.3 billion Swiss francs ($6.82 billion) of client assets, of which 3.9 billion francs are assets under management and 1.4 billion assets under custody, EFG said.
Quilvest Switzerland was founded in 1932 by the Argentinian Bemberg family and is fully owned by Bemberg Capital, a Luxemburg-based holding of the family, the bank said.
Details of the Acquisition
"We look forward to our future partnership with the Bemberg family and to working with the Quilvest Switzerland team as they add to our growth in Switzerland, the Middle East and the Americas," EFG CEO Giorgio Pradelli said in a statement.
Impact on EFG's Capital Ratio
The closing of the transaction is expected in the third quarter of 2026 pending regulatory approval, EFG said.
Future Prospects with Bemberg Family
EFG will acquire all Quilvest Switzerland shares in cash and expects the purchase to reduce its Common Equity Tier 1 (CET1) capital ratio by up to around 70 basis points.
($1 = 0.7775 Swiss francs)
(Writing by Dave Graham, Editing by Miranda Murray)
