EFG is appointing Timothy Lo as North Asia vice-chairman, it said in an emailed statement on Friday. Lo has been deputy CEO and North Asia commercial head at Indosuez in Hong Kong for the past four years.

In Hong Kong, EFG is hiring eight private bankers including Michelle Wu as managing director and team head. Wu was previously a team head at Indosuez, which is the private banking arm of Crédit Agricole.

EFG said Lo will report to Albert Chiu, who has overseen EFG's activities in Asia for the past five years. Chiu's deputy, Angela Bow, quietly left the bank earlier this year after less than two years in the job, according to LinkedIn.