EFG Shifts Banker to UK to Cover Global Asia Clients
Zurich-based EFG has made an appointment to a newly formed team in the UK that will focus on serving Asian clients.
EFG has named Oliver Balmelli as business head Asia Pacific, UK, according to a LinkedIn post.
«After 19 years in Singapore we are further developing our offering, for our Asia Pacific clients and prospects, out of London. The City is always an attractive hub for education, real estate and investments with a stable legal system,» Balmelli said in the post.
Balmelli has worked at EFG in Singapore since 2016 after being transferred as part of the acquisition of BSI, where he spent 14 years. He was most recently a market group head.
Newly Formed Team
EFG previously said that it would form a new desk in London to serve Asian clients, with Balmelli earmarked to lead the 10-person team. According to CEO Giorgio Pradelli, this was part of a broader trend of diversification.
«Asian clients who have previously invested in the US now want to diversify more heavily into Europe. In private banking, clients are always looking for safe havens,» Pradelli reportedly said in April.
