EFG International’s London-based subsidiary, EFG Private Bank, is to establish a private banking joint venture with Lebanese Canadian Bank in which it will own 51 per cent.

The joint venture will be called LCB Capital Management, and will be based in London at the premises of EFG Private Bank. It is to become operational immediately, and will be managed by Camil Ghantous, who joined EFG last year from Bank Hofmann.

This collaboration will allow Lebanese Canadian Bank to offer private banking services to its clients.

For EFG International, it will enhance its established and growing business in the Middle East region, from a number of international locations (including London, Geneva, and Zurich), as well as local representation in Dubai and Bahrain.

Clients will have access to the full range of EFG Private Bank’s capabilities.