Latest news with #CitéGestion
Yahoo
03-05-2025
- Business
- Yahoo
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. Sign in to access your portfolio
Bloomberg
02-05-2025
- Business
- Bloomberg
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)
Reuters
19-02-2025
- Business
- Reuters
EFG International posts profit rise, to acquire private bank Cité Gestion
ZURICH, Feb 19 (Reuters) - Switzerland's EFG International (EFGN.S), opens new tab said on Wednesday it had posted a net profit of 321.6 million Swiss francs ($356 million) in 2024, an increase of 6% from the previous year, and that it was acquiring Swiss private bank Cité Gestion. EFG's net new assets were 10.1 billion francs, good for a growth rate of 7.1%, and exceeding EFG's target range of 4-6%. The Swiss private bank said it would acquire 100% of Cité Gestion with approximately 7.5 billion francs of assets under management, and that the transaction was expected to close in the second half of 2025, subject to regulatory approval. ($1 = 0.9025 Swiss francs)
