Marcelo Coscarelli has been appointed Head of Americas Region and a member of the Executive Committee at EFG International. The appointment will be effective January 1st 2017.
Previously, Marcelo Coscarelli was at Citibank Latin America, serving as Managing Director for high-net-worth and affluent clients since 2012. From 2008 to 2012, he was Chief Operating Officer of Itaú Private Bank International in Miami.
EFG International also announced that it has completed the acquisition of BSI for a preliminary purchase price of CHF 1,060 million. According to a press release, this transaction represents a milestone for EFG International’s positioning and growth. Joachim H. Straehle, CEO of EFG International said “the closing of the acquisition marks a historic milestone for both EFG International and BSI. Together we are forming a leading pure play private bank with strong Swiss roots, a broad international presence and an entrepreneurial spirit. Over the coming months, we will jointly drive forward the integration to realise the full benefits of the business combination for our clients, employees and shareholders. The combined group will have a solid capital and liquidity position, which will support the further development of the business.”
With the completion of the transaction, Steve Jacobs, Vice-Chairman of BSI from September 2015 until closing, and Roberto Isolani, CEO of BSI from May 2016 until closing, have become members of EFG International’s Board of Directors as representatives of BTG Pactual.
BSI will operate as a separate subsidiary within EFG International’s holding structure for a limited time, until its full legal integration, expected in the second quarter 2017.