Switzerland EFG Bank Completes Acquisition of Swiss Private Bank Cite Gestion with $8.3 Billion AUM & Offices in Lausanne, Lugano & Zurich, Will Continue to Operate Independently & Retains Cite Gestion Name
8th October | Hong Kong
Switzerland EFG Bank has completed the acquisition of Swiss private bank Cite Gestion ($8.3 billion / CHF 7.5 billion AUM), with offices in Lausanne, Lugano & Zurich. Cite Gestion will continue to operate independently, and retains Cite Gestion name. Announcement (7/10/25): “EFG International has received all the required regulatory approvals and has today completed the acquisition of 100% of Cité Gestion. As of end-2024, Cité Gestion managed around CHF 7.5 billion in assets and it generated a net profit of approximately CHF 6 million for the financial year 2024. The firm has around 150 employees and is headquartered in Geneva, with additional offices in Lausanne and Zurich. Its multi-custody platform is dedicated to serving ultra-high-net-worth individuals (UHNWIs) based in Switzerland, other countries in Western Europe, Latin America and the Middle East. Under the terms of the strategic acquisition, Cité Gestion will continue to operate as an independent subsidiary, retaining its current name and governance, and will benefit from EFG’s global private banking franchise, enabling it to accelerate its growth. EFG expects the transaction to be accretive to earnings per share by 2026. It is anticipated that the acquisition will lead to a reduction in its CET1 capital ratio of approximately 100 basis points.” In 2025 February, EFG Bank announced to buy Cite Gestion ($8.3 billion / CHF 7.5 billion AUM).
“ Switzerland EFG Bank Completes Acquisition of Swiss Private Bank Cite Gestion with $8.3 Billion AUM & Offices in Lausanne, Lugano & Zurich, Will Continue to Operate Independently & Retains Cite Gestion Name “
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Giorgio Pradelli, CEO of EFG International: “The acquisition of Cité Gestion further strengthens our position in our Swiss home market and represents an excellent cultural fit, expanding EFG’s domestic capabilities in wealth management. The acquisition is fully in line with EFG’s previously announced M&A strategy. We want to complement our successful organic growth with targeted value-accretive acquisitions to further increase our scale in key markets around the globe.”
Guy Barbey, CEO of Cité Gestion: “We are very pleased to become an independent subsidiary of EFG International. This strategic alliance will allow Cité Gestion relationship managers to provide their clients with an enhanced offering, including a broader range of financing solutions, expanded investment capabilities and access to additional booking centres. Further, our Independent Asset Management (IAM) model will be preserved under the new set-up, supporting Cité Gestion’s growth in the coming years and enabling us to strengthen our position in the IAM sector in Switzerland.”
Switzerland EFG Bank Buys Swiss Private Bank Cite Gestion with $8.3 Billion AUM & Offices in Lausanne, Lugano & Zurich, EFG Reports $356 Million Net Profit & $183 Billion AUM in 2024
20th February 2025 – Switzerland EFG Bank has announced to buy Swiss private bank Cite Gestion ($8.3 billion / CHF 7.5 billion AUM), with offices in Lausanne, Lugano & Zurich. For 2024, EFG reports $356 million net profit & $183 billion AUM. Announcement (19/2/25): “EFG International is today announcing that it will acquire 100% of the Swiss private bank Cité Gestion. The closing of the transaction is expected in the second half of 2025 and is subject to regulatory approval. The acquisition is fully in line with EFG’s previously announced M&A strategy and criteria, represents a good cultural fit and will further strengthen EFG’s presence and capabilities in Switzerland. It is expected that the transaction will be EPS accretive by 2026. EFG expects the acquisition to adversely impact its CET1 capital by approximately 100 basis points. Cité Gestion manages approximately CHF 7.5 billion of Assets under Management as of end-2024 and generated a net profit of around CHF 6 million in 2024. Cité Gestion has around 130 employees, is headquartered in Geneva, with further offices in Lausanne, Lugano and Zurich. Its multi custody business focuses on serving UHNWIs domiciled in Switzerland, Western Europe, Latin America and the Middle East.” EFG – EFG International is a global private banking group offering private banking and asset management services and is headquartered in Zurich. EFG International’s group of private banking businesses operates in over 40 locations worldwide. Its registered shares (EFGN) are listed on the SIX Swiss Exchange.
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