The ESFG Group conducts its investment banking activities through it principal banking subsidiary Banco Espírito Santo (‘BES’). The fully owned subsidiary of BES, BES Investimento, follows the same global distribution strategy as its parent company. The strategic triangle of BES covers the Iberian Peninsular, Angola and Brazil. ESFG holds further investment banking interest in France, through Banco Espírito Santo et de la Venétie and in the United Arab Emirates through ES Bankers (Dubai) Ltd.