Swiss private bank EFG International is planning to set up an onshore business in Chile, which will operate as a local brokerage firm.
The new EFG Chile business will provide Chilean clients a combination of local and international wealth management services.
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The new business is slated to be fully operational by the end of 2015.
As part of the move, the bank has appointed Benjamin Hughes and Gonzalo Ferrer as managing partners of EFG Chile.
Prior to joining EFG, Hughes has worked as wealth management director at Celfin Capital for seven years, setting up and leading a new wealth management division. Previously, he also worked for five years as a senior corporate relationship manager at Banco Security.
Gonzalo Ferrer joined from Celfin Capital-BTG Pactual, where he served as managing director and has held senior roles in investment banking, structured products, capital markets and corporate banking for over 10 years.
