EFG International has finalized the acquisition of Geneva-based private bank Cité Gestion. After receiving all necessary regulatory approvals, EFG is taking over 100 percent of the shares, the company announced on Tuesday.

As of the end of 2024, Cité Gestion managed assets of around 7.5 billion Swiss francs and generated an annual profit of 6 million francs. The institution employs roughly 150 people and operates in Geneva, Lausanne, and Zurich. Its multi-custody platform caters to ultra-high-net-worth individuals (UHNWIs) in Switzerland, Western Europe, Latin America, and the Middle East.

Brand Will Remain

Cité Gestion will continue to operate as an independent subsidiary under its own name and governance structure. At the same time, it will benefit from EFG’s global network to accelerate growth.

EFG Expands Foodprint in Core Markets

According to EFG CEO Giorgio Pradelli, the acquisition strengthens the group’s position in its home market and is a strong strategic and cultural fit. The deal aligns with EFG’s M&A strategy of expanding its footprint in key markets through targeted acquisitions.

Cité Gestion CEO Guy Barbey emphasized that the partnership will give relationship managers access to an expanded range of products — including additional financing and investment solutions as well as new booking centers. The existing independent asset manager (IAM) model will remain in place and serve as a foundation for further growth.

EFG expects the transaction to have a positive impact on earnings per share from 2026 onward. The bank's CET1 capital ratio is projected to decrease by approximately 100 basis points as a result of the acquisition.