CBH Compagnie Bancaire Helvétique SA acquires the international wealth management business of FIBI Bank (Switzerland) Ltd.
CBH Compagnie Bancaire Helvétique SA, with headquarters in Geneva, is pleased to announce the acquisition of the private banking activities of FIBI Bank (Switzerland) Ltd. The transaction covers all of FIBI Bank clients. The tier one capital ratio will remain above 22% after this transaction. The deal should be finalized in the course of the first quarter 2017.
Source: CBH Compagnie Bancaire Helvétique SA, 19 December 2016
FINMA initiates bankruptcy proceedings against Bank Hottinger
The Swiss Financial Market Supervisory Authority FINMA initiated
bankruptcy proceedings against Bank Hottinger & Cie Ltd on 26 October
2015. FINMA was obliged to take this measure as the bank is at risk
of becoming overly indebted. The option of restructuring was thoroughly
reviewed but ultimately proved unattainable. Current calculations indicate
that privileged deposits can be fully refunded from the bank's available
» FINMA initiates bankruptcy proceedings against Bank Hottinger
Source: Swiss Financial Market Supervisory Authority FINMA, 26 October 2015
Royal Bank of Canada (Suisse) SA becomes Banque SYZ Suisse SA
Seven weeks after the agreement was announced, the SYZ banking group
announces the completion of the acquisition of Royal Bank of Canada
(Suisse) SA. The acquisition, approved by FINMA, the Swiss Financial
Market Supervisory Authority, became effective on 28 August. The new
entity is called Banque SYZ Suisse SA and its merger with Banque SYZ
SA is scheduled for end 2015.
» Royal Bank of Canada (Suisse) SA becomes Banque SYZ Suisse SA
Source: Banque SYZ SA, 31 August 2015
CBH Compagnie Bancaire Helvétique acquires a significant part of Banque Privée Espírito Santo
Banque Privée Espírito Santo (BPES) today announced the sale of a
significant part of its private banking business to CBH Compagnie Bancaire
Helvétique SA, a Swiss independent private bank. The agreement covers
the bank's clients in the Iberian and Latin American regions.
» CBH Compagnie Bancaire Helvétique acquires a significant part of Banque Privée Espírito Santo
Source: CBH Compagnie Bancaire Helvétique SA, 22 July 2014
Banking licence of Centrum Bank (Switzerland) Ltd. will be returned by mid-2014
As part of this strategic development, the booking activities of the Centrum Bank Group will be consolidated at the parent company in Liechtenstein, and the banking licence of Centrum Bank (Switzerland) Ltd. will be returned by mid-2014. The Swiss domestic market continues to be of great importance for the group – the activities of Belvédère Asset Management AG, a subsidiary of the bank, will be expanded in a targeted manner. Belvédère Asset Management is an asset management company which was established in Zurich in 2001. In addition to its bank- independent asset management services, it also provides family office services.
Source: Centrum Bank (Switzerland) Ltd., 30 April 2014
Bank Frey & Co. AG to cease operations
At the request of the Executive Board, an extraordinary general meeting of the shareholders of Bank Frey & Co. AG has decided to cease Bank Frey's business activity. The decision stems from the increasingly difficult market conditions, ever-growing regulations and the unsustainable requirements that smaller private banks are required to comply with, in part as a result of the tax dispute with the USA. In recent months Bank Frey has seen costs and expenditures escalate to such an extent that they are no longer sustainable for a small private bank, especially when it desires to remain competitive in the best interests of its clients. This is due to the increasingly frequent and ever stronger regulation of financial institutions.
Source: Bank Frey & Co. AG, 17 October 2013
Swissquote acquires MIG Bank
Swissquote Bank is
acquiring a 100 percent holding in MIG Bank effective 25 September 2013.
The acquisition of this major forex broker secures Swissquote Bank a
place among the world’s largest forex service providers. The goal is
to merge MIG Bank with Swissquote Bank.
» Swissquote acquires MIG Bank
Source: Swissquote Bank SA, 25 September 2013
The purchase of 99.145% of shares in SLB Commercial Bank AG (Switzerland) by Sberbank of Russia completed
Sberbank of Russia completed today the purchase of 99.145% of shares in SLB Commercial Bank AG (hereinafter “SLB”) from LUKOIL (hereinafter the “Transaction”) group of companies. The transaction is accomplished as a part of implementation of Sberbank’s international strategy and targeted at providing of access of the current and prospective clients of Sberbank to its international products and services.
Acquisition price of 99.145% shares amounted to CHF 75,350,200.0. Amount of transaction may be adjusted later on results of preparation of financial statements by SLB as on the date of the Deal.
Sberbank plans to use SLB, which will subsequently change its name to Sberbank (Switzerland) AG, as a basis for development of syndicated lending and trade finance business in Europe, and also a range of other products for top corporate clients. Sberbank (Switzerland) AG will work primarily with foreign subsidiaries of the top Russian clients of Sberbank, and will participate in funding of international holdings of Russian companies.
Source: Sberbank, 23 December 2011
ABN AMRO Bank (Switzerland) AG as of now a subsidiary of Union Bancaire Privée, UBP SA
ABN AMRO Bank (Switzerland) AG is pleased to announce that it is now a subsidiary of Union Bancaire Privée. UBP is a leading Swiss family-owned bank dedicated to wealth management for private and institutional clients.
Quelle: ABN AMRO Bank (Switzerland) AG, October 31, 2011
Acquisition of AIG Private Bank completed - new name is Falcon Private Bank
The acquisition of AIG Private Bank Ltd. by Aabar Investments PJSC (Aabar) has been completed. As of today, AIG Private Bank will conduct its business under the new name Falcon Private Bank Ltd. The independent financial institution, wholly owned by Aabar, and headquartered in Switzerland, specialises in wealth management services for an international base of private clients, wealthy families and institutional investors.
Falcon Private Bank is now an independent financial institution, wholly owned by Aabar, headquartered in Switzerland along with branches and representative offices in Geneva, Hong Kong, Singapore, Shanghai and Dubai. Aabar is committed to grow the business further with a particular focus on providing wealth management services to private clients, wealthy families and institutional investors in Switzerland, Asia and the Middle East.
Source: Falcon Private Bank Ltd., 20 April 2009
Amas Bank (Switzerland) Ltd changes name to Hinduja Bank (Switzerland) Ltd
Amas Bank (Switzerland) Ltd today announced that it has changed its name to Hinduja Bank (Switzerland) Ltd. The bank belongs to the family-owned Hinduja Group, one of the largest diversified business groups in the world.
“The change reflects the growing strength of the Hinduja name in global business, as well as the Group’s increased commitment to the bank in Switzerland. The bank has a strong balance sheet and steered clear of the financial crisis by focusing on prudent management and investment strategies,” said Chief Executive Ivan Schouker.
“Hinduja Bank (Switzerland) Ltd combines the solid traditions of Swiss banking with excellent links to the growing economies of South Asia and the Middle East. At a time when some other banks have been retrenching, we have been investing for the future by hiring new senior executives, creating a banking subsidiary in Dubai and acquiring 40% of one of the oldest Indian stockbrokers, Paterson Securities Ltd,” he said.
Source: Amas Bank, 16 March 2009
Swiss based IBI Bank AG rebranded as J&T Bank Switzerland Ltd.
Swiss based IBI Bank AG, with headquarters in Zürich and an office in Lugano is launching a new corporate identity and changing its name to J&T Bank Switzerland Ltd. effective July 1, 2008. These changes, which include strengthening its management team, signify the Bank’s new business strategy of closer cooperation with sister institutions in Prague, Bratislava and Moscow– all united under the J&T Private Banking brand.
Source: IBI Bank AG, July 1st 2008