EFG International AG said on Monday that it has agreed to acquire all outstanding shares of Quilvest (Switzerland) Ltd, a private banking firm headquartered in Switzerland known for its sizable client base in Latin America.
The deal is structured as an all-cash purchase and is targeted to be completed in the third quarter of 2026, subject to the customary regulatory approvals. Upon closing, EFG intends to integrate Quilvest Switzerland into EFG Bank.
Quilvest Switzerland traces its origins to 1932, when it was founded by the Argentinian Bemberg family. The entity is presently wholly owned by Bemberg Capital, a family holding company based in Luxembourg.
At the time of the announcement, Quilvest Switzerland manages approximately CHF 5.3 billion in client assets. That total breaks down into around CHF 3.9 billion in Assets under Management and CHF 1.4 billion in Assets under Custody. The bank's client mix is concentrated among very wealthy individuals - ultra-high net worth and high net worth clients together represent more than 90% of its AuM - and its client footprint includes Latin America, Western Europe including Switzerland, and the Middle East.
EFG said it expects the acquisition to have an impact on its capital ratios, with a maximum reduction of approximately 70 basis points to its CET1 ratio. The company reiterated plans to fold Quilvest Switzerland's operations into its existing EFG Bank platform.
Giorgio Pradelli, Chief Executive Officer of EFG International, commented on the transaction: "We look forward to our future partnership with the Bemberg family and to working with the Quilvest Switzerland team as they add to our growth in Switzerland, the Middle East, and the Americas and to further expanding our holistic client offering."
EFG said the purchase is consistent with its previously disclosed mergers and acquisitions strategy and criteria. The company framed the deal as strengthening its position in its home market and in regions it has identified as growth areas.
Note: The transaction remains subject to regulatory approval and the planned integration will follow completion of the deal.