Former star banker Boris Collardi had been very quiet after leaving Pictet last August. Now, surprisingly, he is taking a stake in EFG International.
Former Julius Baer boss and Pictet partner Boris Collardi has found a new home. He is taking a 3.6 percent stake in Swiss private bank EFG International, the institution announced in a surprise move on Friday.
The EFG board of directors intends to convene an extraordinary shareholders' meeting to elect Mr. Collardi in the coming months once all regulatory filings and approvals have been completed. Collardi will then become a non-independent member of the board of directors.
Collardi acquired his shares from EFG's founder, Spiros J. Latsis who stepped down from the Board of Directors in 2021, handing the firm over to his son John S. Latsis. According to calculations of EFG's market capitalization, Collardi's stake is worth around 80 million Swiss francs ($82.3 million).
