April 29, 2020 / 5:20 AM / a month ago

BRIEF-EFG International names Martin Freiermuth Chief Operating Officer from mid-August

April 29 (Reuters) -

* EFG INTERNATIONAL SAYS MARTIN FREIERMUTH APPOINTED CHIEF OPERATING OFFICER AND A MEMBER OF THE EXECUTIVE COMMITTEE, EFFECTIVE MID-AUGUST 2020.

* EFG INTERNATIONAL EFG REGISTERED POSITIVE INFLOWS, WITH AN ANNUALISED NET NEW ASSET GROWTH RATEI OF 2.5%

* EFG INTERNATIONAL SAYS SAW STRONG CONTRIBUTION FROM ITS UK, CONTINENTAL EUROPE & MIDDLE EAST AND LATIN AMERICA REGIONS, OFFSET BY DELEVERAGING TRENDS IN ASIA PACIFIC

* EFG INTERNATIONAL SAYS ASSETS UNDER MANAGEMENT REBOUNDED SLIGHTLY IN APRIL AND CURRENTLY STAND ATCHF 139.7 BILLION

* EFG INTERNATIONAL SAYS CORONAVIRUS Q1 IMPACT WAS CONTAINED TO LIMITED VALUATIONLOSSES IN FIXED INCOME TRADING PORTFOLIO, WITH SUBSTANTIAL RECOVERY IN VALUATIONS WITHIN THE MONTHOF APRIL

* EFG INTERNATIONAL SAYS MAINTAINS ITS STRONG CAPITAL RATIOS AND AMPLE LIQUIDITY BUFFERS, WHICH ARE WELL ABOVEREGULATORY REQUIREMENTS

* EFG INTERNATIONAL SAYS EXPECTS CONTINUED PRESSURE ON OPERATING INCOME AS THE EFFECT FROM THE LOW INTEREST RATES WILL MATERIALISE FULLY AND FURTHER DELEVERAGING MIGHT IMPACT NET NEW ASSET AND ASSETS UNDER MANAGEMENT LEVELS.

* EFG INTERNATIONAL SAYS EFG IS IMPLEMENTING MITIGATING REVENUE MANAGEMENT ACTIONS AND REMAINS COMMITTED TO ITS PREVIOUSLY ANNOUNCED COST REDUCTION MEASURES. Source text for Eikon: Further company coverage: [ ] (Reporting by John Revill)

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