EFG International AG completed the legal integration of "substantially all" of BSI SA's Swiss business into EFG Bank AG.
The asset transfer took effect April 7. It included client relationships and employees, the company said April 10. The combined Swiss business will now operate solely under the EFG name.
The development follows completion of the integration process in Asia and, more recently, the integration of BSI Overseas (Bahamas). The remaining BSI entities in Luxembourg and Monaco are expected to be integrated during the second quarter, EFG International noted.