The Latsis family runs its financial empire from Geneva. Born in 1910, John Spyridon Latsis started out in the dried fruit business. Business was booming and he bought his first charter boat in 1938.
He then diversified his activity by setting up a real estate company. In the sixties, he further expanded his group with the purchase of an oil refinery. His good relations with the Saudi Arabianroyal family landed him a contract for the construction of a refinery in Saudi Arabia.
John Latsis then branched out into finance. In 1979, he bought out the Deposit Bank from the Onassis family in Geneva. In 1989, he created the Private Bank and Trust Company, followed by the Euroinvestment Bank the year after. The financial sector of the group's activity is run by his wife Mariana in Geneva.
In 1999, John Latsis handed the empire over to his son, Spiro Latsis, who manages the Latsis family fortune, estimated at six billion Swiss francs, in Geneva. The Latsis family is considered to be the seventh wealthiest family in Switzerland. Aside the marine and oil industries, Spiro Latsis is also developing the EFG Holding Company, which specializes in wealth management.