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Vontobel Buys Swiss Private Bank Notenstein from Raiffeisen for $707 Million

Vontobel Buys Swiss Private Bank Notenstein from Raiffeisen for $707 Million

Swiss private bank Vontobel have entered into an agreement to buy 100% of Swiss private bank Notenstein La Roche from Switzerland 3rd largest bank, Raiffeisen for around $707 million (CHF 700 million).

” Vontobel Buys Swiss Private Bank Notenstein from Raiffeisen for $707 Million “

Notenstein La Roche has client assets of CHF 16 billion in its wealth management and external asset managers businesses, with most of their clients in Switzerland.  Vontobel’s assets under management in combined wealth management (Wealth Management and EAM) had reached a new record level of CHF 54.0 billion, up from CHF 46.8 billion in 2016.

XR: USDCHF 0.99

Source: Vontobel, Reuters

 

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