The IAM offering is similar to those which the EFG group already runs in markets such as Switzerland, other parts of continental Europe, Asia and Latin America.
EFG Private
Bank[tag], the UK arm of Swiss private bank EFG International,
has launched a platform in London directly aimed at independent
asset managers, mirroring the group’s international
offerings.
The IAM UK Desk will complement EFG”s other
services catering to multi-family offices, IAMs and wealth
managers wanting support for serving their own
clients.
EFG said the team will provide clients with a platform for order
management, the ability to book in the UK, a streamlined account
opening process and a product offering ranging from complex
alternatives to wealth planning.
Ian Wright, head of the UK IAM business, will lead the team
and report to Michael Vlahovic, head of UK private banking, and
Daniel Ioannis Zürcher, global IAM head. Wright has 25 years’
experience in the financial services industry, internationally,
the last 12 of which have been within the IAM space. He is joined
by David Holmes, who has 10 years of both operational and
relationship experience in the IAM market, and Kristina Donnelly,
who has worked at EFGIUK for 10 years.
“There is a real gap in the market for a premium IAM service,
particularly as we continue to see healthy growth in the number
of entrepreneurial multi-family offices and wealth managers
looking for private banks such as EFG to serve their
sophisticated client base,” Vlahovic said.
Zürcher said the firm is already strongly positioned in the IAM
segment, particularly in Switzerland, Continental Europe, LatAm
and Asia.
WealthBriefing has asked EFG for detail including the
revenue model for this business, what lessons it brings from
other IAM markets, why it is launching the service at this
particular time, and other details. An update will be provided in
due course.
