There's Not a Lot of M&A Targets Around, Says EFG CEO Pradelli
Swiss wealth manager EFG International CEO Giorgio Pradelli says there are not many acquisition targets at the moment despite "very active" interest. Last year, Pradelli had said he was looking at potential deals 'north of 5 billion' Swiss francs ($6 billion), with Switzerland, the UK, Luxembourg and Monaco being potential places to deploy excess capital. EFG announced the purchase of smaller rival Cité Gestion earlier this year. While the financial industry has seen some mergers and acquisitions in the past few weeks, a broader global slump in dealmaking has spilled over to this year as investors remain on the sidelines to make sense of US President Donald Trump's tariff war. Pradelli spoke on "The Pulse with Francine Lacqua" on Bloomberg TV. (Source: Bloomberg)
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