Union Bancaire Privée has entered into two exclusive agreements with Societe Generale that will see it purchase the latter's UK and Channel Islands wealth management arm Kleinwort Hambros and its Swiss private banking activities.
Both transactions are forecast to be completed by the end of the first quarter of 2025 and will see UBP's assets under management swell by more than CHF 25bn. UBP said the Societe Generale's Swiss private banking branch and UK wealth management arm "have long been recognised throughout the industry", and added it hopes the acquisitions will complement the existing expertise within the firm. UBP poaches Brown Shipley investment adviser Guy de Picciotto, CEO of UBP, said "We are extremely pleased to onboard skilled and experienced teams, and are looking forward to providing clients ...
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