EFG INTERNATIONAL N

EFG International has appointed Ranjit Khanna, effective 26 August, as CEO of its Dubai advisory office. Khanna will drive the expansion of the business in Dubai and the United Arab Emirates and reports to Patrick Ramsey. He joins from the Bank of Singapore and brings more than 30 years of experience in international private banking. » More on finanzen.net

EFG International has reached an agreement under which Canaccord Wealth will take over the front‑office teams and client assets of Harris Allday. EFG did not disclose the purchase price; closing is expected in the fourth quarter of 2026. The sale is forecast to contribute around CHF 20 million pre‑tax to results in the second half of the year and to increase the CET1 ratio by about 30 basis points. EFG intends to focus in the UK on asset management and private banking for wealthy clients going forward. » More on finanzen.net

EFG International’s net profit fell to CHF 184.6 million in the first half of the year, largely due to the loss of a one-off gain of around CHF 45 million from 2025; on an adjusted basis profit would have risen by about 5%. The bank reports strong net new money of CHF 5.7 billion and AUM growth to CHF 196.3 billion at mid-year; with the acquisition of Quilvest assets under management have now exceeded CHF 200 billion. Operating income rose 7% on an adjusted basis, costs increased by 8% mainly due to integrations, and the cost-income ratio remained around 71.5%. EFG missed analysts’ expectations for net profit and operating income but beat forecasts for net new money and AUM. » More on finanzen.net