Apac to lead Swiss private bank EFG’s growth; region contributes 25% of AUM
Hong Kong remains a core market with an established wealth ecosystem and its position as a gateway to China
[SINGAPORE] Asia-Pacific is a critical region for Swiss private bank EFG International, and the continued creation of new wealth bodes well for it to play a key role in its 2025-2028 strategic cycle.
“The region has delivered strong growth across all locations, with net new asset growth of 8.5 per cent in 2025, equivalent to 3.2 billion Swiss francs (S$5.2 billion) of the 11.3 billion Swiss francs of net new assets generated globally,” said the bank’s executive chairman (Apac) Albert Chiu in an interview with The Business Times.
The bank joins others in turning its focus to Asia’s private wealth for continued growth.
Apac contributed a quarter or about 43.9 billion Swiss francs in assets under management (AUM) out of 185 billion Swiss francs at the end of 2025. EFG aims to grow above the market average among its peers across all regions, with Apac set to be a leading contributor to growth.
New client relationships is one of the factors driving growth here, accelerated by taking on several large teams from other private banks in the past two years. EFG has also deepened its engagement with existing clients by offering more services such as tailored multi-shore wealth solutions.
“We have expanded coverage in markets such as Australia and New Zealand, reaching new client segments while providing a comprehensive suite of services,” added Chiu.
For now, Hong Kong remains a core market for EFG with an established wealth ecosystem and its position as a gateway to China.
Outside of wealth hubs Hong Kong and Singapore, the private bank sees potential in Malaysia, Indonesia and Thailand, with opportunities from entrepreneurs and high-net-worth individuals seeking geographical diversification.
“Chinese investors, in particular, continue to show significant regional mobility, establishing holdings or family offices across Asia, drawn by stable political climates, improving infrastructure, linguistic and cultural connectivity,” said Chiu.
EFG’s Apac clients have been surprisingly resilient and adaptable, according to Chiu, as they continually invest amid global uncertainty and market volatility. This reinforces Asia’s position as a global engine of wealth for EFG.
The profile of clients has also been changing – in particular the next generation, who have varied interests beyond traditional finance.
“We are seeing genuine engagement with pop culture – from global music trends to K-pop, sports, digital communities and entertainment-driven investments,” noted Chiu.
EFG appointed former Bank of Singapore private banking co-head Robin Heng as vice-chairman for South-east Asia in September 2025, as part of strengthening its business in the region. The appointment will leverage his extensive experience in South-east Asia and network in driving growth.
The Swiss private bank is leaning on its client relationship officer (CRO) model to provide tailored solutions for its clients in driving growth and sustaining the relationships.
There is also constant evaluation of potential bolt-on acquisitions, with EFG looking to ensure that opportunities align with long-term growth objectives.
“Specifically, we are looking for organisations whose culture matches our own, through which we can strengthen our presence in existing markets, and that meet our return on investment threshold,” explained Chiu.
Asia remains the largest global engine of new wealth creation, and the region presents opportunities for EFG, Chiu pointed out.
The rise of family offices and increasing demand for cross-border structuring and diversification amid the Great Wealth Transfer between baby boomers to the later generations will shape the Swiss private bank’s business.
The strategy for the region will focus on three pillars: scaling up EFG’s CRO talent in key markets; tapping its multi-shore platform for clients to diversify across Apac and beyond; and pursuing sustainable growth through a low-risk balance sheet, long-term client relationships and strong compliance.
“The aspiration for EFG globally is to become the private bank of choice for generations of clients, delivering truly personalised service and impartial advice,” added Chiu.
