Greece’s EFG Bank in Mideast venture March 14, 2008Posted by grhomeboy in Business & Economy.
Tags: Banking, Business, Greece, News
EFG International, the Swiss private bank founded by the late Greek shipping tycoon John Latsis, said it has started a joint venture with Beirut-based Lebanese Canadian Bank to improve access to clients in the Middle East.
Zurich-based EFG will own 51 percent of the venture, called LCB Capital Management Ltd, which will operate from London and is effective immediately. Lebanese Canadian Bank had assets under management of $3 billion at the end of 2007, EFG said.