EFG Expands Americas Teams as Entrepreneurs Diversify Wealth Abroad

Zurich-based private bank EFG International is expanding its team serving clients from the Americas at a time when its wealth under management from the region is growing faster than the other areas in which it operates, Bloomberg reported Friday (May 29).

Over the past 12 months, EFG hired five people for its two offices in Brazil, a team in Miami, and a banker in Switzerland who is serving Brazil. The private bank has 300 people serving the Americas, according to the report.

EFG plans to keep hiring. It aims to hire between 50 and 70 client relationship managers across its operations every year, and it expects about 15% of those hires to be for the Americas region, the report said.

Latin American clients now account for over 12% of the $239 billion in assets EFG has under management globally. The private bank has also seen U.S. entrepreneurs diversifying outside the U.S. by buying houses in Europe. It sees an opportunity to help Brazilian clients diversify their holdings as well, per the report.

Sanjin Mohorovic, CEO of the firm’s EFG Capital brokerage in Miami and head of EFG’s Americas operation, said in the report that Brazil and the rest of Latin America is benefiting from an absence of war, plentiful natural resources, and a sophisticated banking and financial system.

“And it’s growing a lot in terms of entrepreneurs and families, and they are becoming international investors,” Mohorovic said.

EFG reported May 20 that its assets under management increased 19% year over year and reached a record high of 190.2 billion Swiss francs (about $243 billion) at the end of April.

“We had a strong start into the new strategic cycle, supporting our clients as they navigate geopolitical uncertainty and market volatility,” EFG International CEO Giorgio Pradelli said in a May 20 press release. “EFG generated record profitability and attracted net new asset inflows at the upper end of our target range in the first four months of 2026, with positive contributions from all our regions and strong growth in Continental Europe and Middle East and in Asia Pacific.”