The Zurich-headquartered private banking group EFG International has joined forces with the Viper 640 Class Association to create the EFG Bank Pan-American Viper Championships.

This year the championship will comprise a circuit of three Viper 640 regattas, in Miami, Kingston (Ontario) and Rye, New York. The Viper 640 is a high-performance, one-design sport boat.

As GoldFinger has noticed in the past, private banks like to sponsor certain sports that go with a particular image or lifestyle with which to be associated. A couple or so years ago, golf was a popular choice, but yachting always remains a favourite. Amid the recent financial turmoil, however, corporate budgets will be under close scrutiny - and yachting, as any fan of the America's Cup event will tell you, can be a mightily expensive business.