EFG International is set to acquire Quilvest Switzerland, a private bank based in Zurich. The deal’s financial terms are undisclosed, and the acquisition is expected to be finalized in the third quarter of 2026 pending regulatory approval. Quilvest manages client assets totaling around SFr 5.3bn, primarily from ultra-high and high net worth individuals in Latin America, Western Europe, and the Middle East.

Following the acquisition, EFG plans to offer a broader range of services to Quilvest’s clients, including the Bemberg family. The purchase aligns with EFG’s strategy of strengthening operations in growth markets like Latin America and the Middle East. Quilvest Switzerland will operate under EFG Bank post-transaction, with its investment expertise integrated into EFG’s platform.

The transaction will be settled entirely in cash, with EFG estimating a reduction in its CET1 capital ratio by up to 70 basis points after the acquisition. EFG’s CEO, Giorgio Pradelli, looks forward to partnering with the Bemberg family and expanding EFG’s presence in Switzerland, the Middle East, and the Americas. The deal underscores EFG’s commitment to long-term value creation and attracting partners who share its entrepreneurial culture.

Read more at Yahoo Finance: EFG enters all-cash deal to buy Quilvest Switzerland