EFG private bank is hiring experienced bankers for its London hub. One of the new hires is a specialist for Turkish clients, according to a memo sent to staff seen by finews.com.
Much like its Zurich-based rival Julius Baer, EFG private bank is also betting that London will remain a strong financial hub even after Brexit. Following the appointment of Richard Stanwell as head of the business with wealthy Brits, EFG now has added Vedat Mizrahi (pictured below) to the team in London.
The announcement of the move came in a memo sent to staff, which was seen by finews.com. EFG confirmed the appointment.
(Bild: Twitter)
Stanwell has more than two decades of experience in private banking and used to work for Kleinwort Hambros, Barclays, Gerrard Investment Management and Killik & Co.
Rich Pickings
Mizrahi will cater to rich Turkish clients from the London offices. He is a specialist for that business, having been member of the executive of Unlu & Co. in Istanbul recently. Unlu is a fund company.
Turkey is undergoing a deep financial crisis with a dramatic fall of its currency due to sanctions imposed by the U.S. administration. As a consequence of the drop in the lira, funds are being moved out of the country, with London being a preferred safe haven.
Michael Vlahovic is the head of the London hub, formerly of Coutts and Credit Suisse and one of Switzerland’s most prolific banker with Russian wealthy. He joined the hub in the summer of 2017.
