Not long ago, Cyprus was in crisis. Today, a Swiss private bank announced its intention to open a branch on the Mediterranean island to serve international as well as Cypriot clients.
EFG International, a Swiss private bank with Greek roots, tonight will celebrate the opening of its branch in Cyprus, the bank said in a statement today. The branch is located in Nicosia, with additional offices in Limassol. Joachim H. Straehle (pictured), chief executive of EFG, will attend the opening ceremony.
EFG Cyprus is formally a branch of EFG Bank (Luxembourg) and aims to «enhancing service and growing its business with international clients residing in Cyprus, international investors,, as well as the Cypriot diaspora.»
Coordinator in London
EFG hired Costas Stylianouto lead the operations in Cyprus. He will liaise with Demetris Pisiaras, who is market coordinator for the island based in London.
Stylianou worked for 11 years at Alpha Bank in Cyprus, where he was in charge of the international unit and a member of the executive committee.
