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Bank baron in city

NEDUMBASSERY, JAN. 6. A chartered flight carrying 10 members of one of the world's richest families arrived here at the Cochin International Airport this afternoon. The Boeing 737 aircraft with Spiro Latsis, a powerful player in the European banking sector, and his family arrived here at 12.45 p.m. from Geneva in Switzerland.

According to Forbes magazine, Spiro Latsis and his family with a net worth of $4.4 billion, ranked 103 on its list of the world' richest people in 2004. The family has been a regular in Forbes listings over the years. However, last year's ratings showed the family slip down two slots from its 2003 ranking of 101.

The visitors would be in Kerala till Sunday. Ventours, an Indian tour operator, has arranged for the visit of the Swiss family. Spiro Latsis, with a Greece citizenship is now settled in Geneva. He declined to talk on his arrival at the Kochi airport, saying that he was too tired.

The Latsis family made its mark in the international arena through shipping. A graduate of the London School of Economics, Mr. Latsis shifted his family's business interests mainly to the banking sector. Though the family still owns a small tanker fleet, ownership of EFG bank group, an international and commercial private banking consortium based in Switzerland, accounts for much of its wealth.

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