BSI Ltd
| Aktiengesellschaft | |
| Industry | Financial services |
| Founded | 1873 |
| Headquarters | Via Magatti 2 Lugano, Switzerland |
|
Key people
|
Joachim H. Straehle (Chairman) Thomas A. Mueller (CEO) |
| Products | private banking, asset management |
| Website | www |
BSI had been the oldest bank in the Swiss canton of Ticino until its integration into EFG Bank and the following renaming into EFG, which took place in 2017. Founded in 1873 in Lugano as the Banca della Svizzera Italiana, BSI was an institution that specialises in asset management and related services for private and institutional clients. In 1998, the bank became part of the Italian Generali group, one of the world's biggest insurance companies. In July 2014, Generali sold BSI to BTG Pactual for $1.7 billion USD, a deal that CEO of the bank, André Esteves stated would make BTG Pactual a “global player in the asset management arena.”
In February 2016 EFG International (SIX:EFGN), the global private banking group based in Zurich, announced the acquisition of the Lugano-based private bank, according to an agreement signed on 21 February 2016 with BSI’s sole shareholder BTG Pactual. The transaction was finalized on November 1st, 2016. Following the closing, BSI’s activities have been integrated into EFG, market by market, in Singapore, Hong Kong, Bahamas, Switzerland and Luxembourg. The integration of Monaco’s activities is expected to take place by the end of the second quarter 2017. With the integration of the Swiss business, which took place at April 2017, the rollout of the renewed EFG brand has started in all locations where the legal integration of BSI has been completed and those businesses will operate solely under the EFG name.
In 1873 BSI opened its main office on Piazza della Riforma in Lugano. The next year, the bank opened its first branch, this in Locarno. Branches in Bellinzona (1879) and Chiasso (1906) followed. In 1880 BSI relocated its headquarters to the historic Palazzo dei Marchesi Riva, which dates back to 1747, where the headquarters of the Bank are located to this day.
The dedication demonstrated by BSI to new ideas has been put into practice by promoting research, foundations, conferences, personal and collective exhibitions, publications, expositions of art and exclusive collections, prestigious concerts and a number of other endeavours. BSI is more than a patron - it vigorously promotes communication in these areas, organizing and taking part in events. The bank has always maintained its commitment to art, music and culture, with an active and constant presence at high-profile performances and exhibitions.
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Wikipedia