Switzerland EFG Bank Buys Swiss Private Bank Cite Gestion with $8.3 Billion AUM & Offices in Lausanne, Lugano & Zurich, EFG Reports $356 Million Net Profit & $183 Billion AUM in 2024
20th February 2025 | Hong Kong
Switzerland EFG Bank has announced to buy Swiss private bank Cite Gestion ($8.3 billion / CHF 7.5 billion AUM), with offices in Lausanne, Lugano & Zurich. For 2024, EFG reports $356 million net profit & $183 billion AUM. Announcement (19/2/25): “EFG International is today announcing that it will acquire 100% of the Swiss private bank Cité Gestion. The closing of the transaction is expected in the second half of 2025 and is subject to regulatory approval. The acquisition is fully in line with EFG’s previously announced M&A strategy and criteria, represents a good cultural fit and will further strengthen EFG’s presence and capabilities in Switzerland. It is expected that the transaction will be EPS accretive by 2026. EFG expects the acquisition to adversely impact its CET1 capital by approximately 100 basis points. Cité Gestion manages approximately CHF 7.5 billion of Assets under Management as of end-2024 and generated a net profit of around CHF 6 million in 2024. Cité Gestion has around 130 employees, is headquartered in Geneva, with further offices in Lausanne, Lugano and Zurich. Its multi custody business focuses on serving UHNWIs domiciled in Switzerland, Western Europe, Latin America and the Middle East.” EFG – EFG International is a global private banking group offering private banking and asset management services and is headquartered in Zurich. EFG International’s group of private banking businesses operates in over 40 locations worldwide. Its registered shares (EFGN) are listed on the SIX Swiss Exchange.
“ Switzerland EFG Bank Buys Swiss Private Bank Cite Gestion with $8.3 Billion AUM & Offices in Lausanne, Lugano & Zurich, EFG Reports $356 Million Net Profit & $183 Billion AUM in 2024 “
Switzerland EFG Bank Buys Swiss Private Bank Cite Gestion with $8.3 Billion AUM & Offices in Lausanne, Lugano & Zurich, EFG Reports $356 Million Net Profit & $183 Billion AUM in 2024
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