Two senior EFG executives are set to quit the Swiss bank to establish a new external asset management business in Hong Kong.
Known as Caidao Wealth, the new firm will be launched by Harmen Overdijk, Asia head of investments at EFG Asset Management, alongside Lodewijk Lamaison van den Berg, managing director at EFG Bank in Hong Kong, according to Asian Investor.
Caidao Wealth will operate as part of Caidao Capital, an independent private equity platform founded and run by Ming Lee.
Lamaison van den Berg said that Caidao Wealth will work together with EFG as a booking platform.
The pair, who joined EFG in 2008, previously worked at MeesPierson, a Dutch private bank.
Overdijk previously founded EFG AM’s Asian portfolio management team. He also served as managing director of investments for Asia and global head of investment strategy and research at Fortis Private Bank, and as Asia chief investment officer at Fortis MeesPierson.
Lamaison van den Berg served as a relationship manager at EFG and also worked with Fortis MeesPierson for almost eight years.