Zurich, 8 December 2016. After the successful closing of the BSI acquisition announced on 1 November 2016 and the full operational integration of BSI in Singapore in mid-November, EFG International today further updates on the integration process and announces an increase in targeted fully phased cost synergies of CHF 55 million to approx. CHF 240 million by 2019.
Zurich, 22 November 2016. EFG International today gave notice to the holder of its EUR 67’604’000 8 per cent Resettable Guaranteed Subordinated Notes due 2022 (ISIN: XS0732522023) issued by EFG International (Guernsey) Limited and of its USD 100’000’000 5.25 per cent Fixed to Floating Rate Subordinated Notes due 2021 (ISIN: CH0145635766) issued by BSI AG, Nassau Branch of redemption of all of the notes at their principal amount together with interest accrued to the date of redemption at their respective first optional call date.
EFG International updates on BSI first-half 2016 results
Zurich, 10 August 2016. BSI performance in the first half 2016 reflected the difficult market environment, the negative impact of the regulatory actions in Asia and a high number of exceptional items. As of 1H 2016, consideration to be paid by EFG International for BSI expected to be reduced by CHF 140 million. Preparation for integration and regulatory approvals ahead of plan with completion expected in the fourth quarter of 2016.
Zurich, 14 July 2016. EFG International today announces that it has agreed with BTG Pactual the terms for EFG Bank’s Singapore branch to purchase the business of BSI Bank (Singapore) in an accelerated asset deal. Subject to obtaining required approvals, the migration of the acquired part of the business is planned to complete by the end of November 2016 at the latest.
Zurich, 5 July 2016. EFG International today announces appointments to the Executive Committee and a new management structure for the combined EFG and BSI business, which will become effective as of the date of the closing of the transaction. In addition, EFG International today announces that an Extraordinary General Meeting will be held on 26 July 2016 in connection with the previously announced financing structure of the transaction.
Zurich, 29 April 2016. At EFG International’s Annual General Meeting held in Zurich today, shareholders approved all proposals put forward by the Board of Directors. Notably, shareholders approved two capital increases in connection with the acquisition of BSI. John A. Williamson was elected as new Chairman.
Zurich, 28 April 2016. EFG International has agreed to acquire the Luxembourg-based private banking activities of UBI Banca International (Luxembourg) S.A. with approx. EUR 3.6 billion of client assets. The transaction will significantly strengthen EFG International’s presence in Luxembourg and will reinforce the Bank’s focus on growing its wealth management presence in Europe.
Zurich, 7 April 2016. EFG International today announced an update on the financing for the combination with BSI, including a commitment by EFG Group to exercise its full subscription rights in an intended rights offering.