The majority of the staff managing the portfolio will move to Vontobel and the resources will be reserved in Switzerland, Vontobel said in a statement.
($1 = 0.9656 Swiss francs)
ZURICH (Reuters) – Swiss bank Vontobel has agreed to get a approximately 2 billion Swiss franc ($2.1 billion) portfolio of eastern European private banking clients from Notenstein La Roche Private Bank Ltd, it said on Monday.
The pair didn’t disclose a price for the deal but a normal guideline in pricing private banking transactions is to pay around 1-2 percent of the assets being acquired.
Published at Mon, 21 Aug 2017 05:38:22 +0000