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06 September 2022

EFG International opens Representative Office in Israel

EFG International is establishing a presence in Israel with the opening of a Representative Office for its Swiss entity, EFG Bank AG, in Tel Aviv. Following the granting of regulatory approvals, EFG will officially begin operating locally in this market on 07 September 2022. Ran Heistein has been named as Head of EFG Bank AG’s Representative Office in Tel Aviv. He will report directly to Franco Polloni, Head of Switzerland & Italy Region of EFG.

The opening of the new Representative Office in Tel Aviv will expand EFG’s coverage of the Israeli market and capture the significant wealth management opportunities in the region. In his new role as Head of the Representative Office, Ran Heistein will work alongside Dan Sagui, who is responsible for the development of EFG’s business activities in Israel.

Ran Heistein and Dan Sagui are both seasoned bankers with extensive industry knowledge and management experience. Prior to joining EFG, Ran Heistein served as Deputy CEO of Bank Hapoalim International (BHI) in Israel, as Head of the Israel Representative Office at Bank Julius Baer and as Head of the Israel Representative Office at HSBC Private Bank Suisse. Dan Sagui previously served as CEO of BHI, as Global Market Head Israel at Bank Julius Baer & Co. and as Head of the Israeli Desk at HSBC Private Bank, in Zurich. In his current role, Dan Sagui is based in Zurich.

Franco Polloni, Head of Switzerland & Italy Region of EFG International: “We see significant growth potential in the Israeli market, and the opening of a Representative Office will help us to accelerate our growth in the region. We are very pleased that Ran Heistein and Dan Sagui will lead our business activities in Israel, and we look forward to working with them closely and to benefiting from their deep understanding and experience of the Israeli market.”

 

Important Disclaimer

This document has been prepared by EFG International AG (“EFG”) solely for use by you for general information only and does not contain and is not to be taken as containing any securities advice, recommendation, offer or invitation to subscribe for, purchase or redeem any securities regarding EFG.

This media release includes forward-looking statements that reflect EFG’s intentions, beliefs or current expectations and projections about EFG’s future results of operations, financial condition, liquidity, performance, prospects, strategies, opportunities and the industries in which it operates. Forward-looking statements involve all matters that are not historical facts. EFG has tried to identify those forward-looking statements by using the words ‘may’, ‘will’, ‘would’, ‘should’, ‘expect’, ‘intend’, ‘estimate’, ‘anticipate’, ‘project’, ‘believe’, ‘seek’, ‘plan’, ‘predict’, ‘continue’ and similar expressions. Such statements are made on the basis of assumptions and expectations which, although EFG believes them to be reasonable at this time, may prove to be erroneous.

These forward-looking statements are subject to risks, uncertainties and assumptions and other factors that could cause EFG’s actual results of operations, financial condition, liquidity, performance, prospects or opportunities, as well as those of the markets it serves or intends to serve, to differ materially from those expressed in, or suggested by, these forward-looking statements. Important factors that could cause those differences include, but are not limited to: changing business or other market conditions, legislative, fiscal and regulatory developments, general economic conditions in Switzerland, the European Union and elsewhere, and EFG’s ability to respond to trends in the financial services industry. Additional factors could cause actual results, performance or achievements to differ materially. In view of these uncertainties, readers are cautioned not to place undue reliance on these forward-looking statements. EFG and its subsidiaries, and their directors, officers, employees and advisors expressly disclaim any obligation or undertaking to release any update of or revisions to any forward-looking statements in this media release and any change in EFG’s expectations or any change in events, conditions or circumstances on which these forward-looking statements are based, except as required by applicable law or regulation.

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