Joachim Strähle, CEO of EFG International, has confirmed that following the merger with BSI, the latter will continue to operate as a distinct brand.

The focus will remain on the Lugano office, as both institutions share aligned corporate cultures in terms of money flows and profitability.

Despite their modest volume, BSI's retail operations, which currently employ 35 staff members, will be preserved due to their significant returns. Strähle emphasized that BSI's core strength lies in private banking. However, he did not disclose details about the future IT platform for the merged entity, as EFG currently uses Temenos while BSI employs an Avaloq solution.

The merger is expected to generate savings of CHF 185 million, primarily in IT, with Strähle suggesting that the final savings could exceed initial estimates. He also anticipates a client fund outflow of 5 to 10 percent, which he describes as a "voluntarily relatively high forecast," along with integration costs estimated at CHF 200 million.