Julius Baer Buys Leumi’s Swiss Unit (Bloomberg)

Julius Baer Buys Leumi’s Swiss Unit (Bloomberg)

Julius Baer said it has entered into a “strategic cooperation agreement” with Bank Leumi and will acquire the Tel Aviv-based bank’s wealth operations in Switzerland and Luxembourg, according to an e-mailed statement today.  Leumi’s private bank in Switzerland and Luxembourg has about 5.9 billion Swiss francs ($6.6 billion) and 1.3 billion francs under management respectively, Zurich-based Julius Baer said. The transaction, expected to be completed by the end of the first quarter of 2015, calls for a payment of 10 million francs of goodwill in cash… Read Source Article

 

Swiss insurer Helvetia to buy rival Nationale Suisse

Swiss insurer Helvetia to buy rival Nationale Suisse (from Reuters)

Helvetia is to buy rival Nationale Suisse in a deal worth 1.4 billion Swiss francs ($1.57 billion).  Helvetia, Switzerland’s third largest insurer by gross premiums, will offer 80 Swiss francs per Nationale Suisse share, representing a premium of 26 percent to Friday’s closing price, the insurer said on Monday… Read Source Article

 

Mirabaud Asset Management has extended its European presence with the hiring of Joachim Suter to develop its Swiss market.

Mirabaud Asset Management has extended its European presence with the hiring of Joachim Suter to develop its Swiss market (from International Adviser)… Read Source Article

Interesting profile of Emmanuel Ferry, CIO at Banque Paris Bertrand Sturza talking about their approach to fund selection & evaluation

Interesting profile of Emmanuel Ferry, CIO at Banque Paris Bertrand Sturza talking about their approach to fund selection & evaluation (from Citywire)… Read Source Article

 

Brazil’s BTG Pactual buys Swiss wealth firm BSI for $1.7 billion

Brazil’s BTG Pactual buys Swiss wealth firm BSI for $1.7 billion (Reuters)

Brazilian investment bank Grupo BTG Pactual is buying Swiss private bank BSI for a knock-down 1.5 billion Swiss francs ($1.7 billion), extending an overseas push by the Sao Paulo-based lender.  The deal, the second biggest in the bank sector this year, brings to an end a long-running attempt to sell the unit by Italian insurer Generali.  BTG, controlled by billionaire financier André Esteves, said the Swiss unit would become its global wealth management business, increasing its wealth and asset management assets to more than $200 billion and giving it a big presence in Switzerland, the world’s biggest financial offshore market… Link to article

 

Swiss Independent Wealth Managers: Challenges & Opportunities Ahead

Research Report: Swiss Independent Wealth  Managers: Challenges &  Opportunities Ahead

Published by Wealthbriefing in association with Coutts & Co Ltd this is a lengthy, detailed report drawing on the survey results of a cross-section of Swiss Independent Wealth Managers.  A fantastic study which provides real insight into what industry participants think about topics such as regulation, fee’s and their growth prospects among others…

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Deloitte International Wealth Management Centre Rankings 2013 – Measuring competitiveness of international private wealth management in Switzerland

Deloitte International Wealth Management Centre Rankings 2013 – Measuring competitiveness of international private wealth management in Switzerland.

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Stability to aid Switzerland in fight for offshore cash

Stability to aid Switzerland in fight for offshore cash

Switzerland’s skill and stability will help the country maintain its position as one of the worlds’ most popular places for foreign money, private bankers said.  A global tax crackdown and tighter regulation have weakened the Alpine nation’s appeal to the wealthy in recent years, threatening its position as the world’s largest offshore cash center with roughly 2 trillion Swiss francs ($2.22 trillion) in assets.  A survey last year predicted Singapore would dethrone Switzerland as early as 2015 as the world’s top center for managing international funds, but UBS’s head of private banking said Switzerland’s strengths went beyond its tax-haven appeal…

Link to Reuters Article

Switzerland is still open for fund-raising

Unlike the rest of Europe, Switzerland is still open for fund-raising (COOConect)

In the United States, it is not hard to find managers of Cayman-domiciled funds that have long since concluded that the Alternative Investment Fund Managers Directive (AIFMD) means European investors must either come to them (“reverse solicitation”) or be avoided altogether. A conversation with Roman Pelka of Montfort Capital, a Zug-based financial advisory firm specialising in alternative assets, furnishes a reminder that investors in Switzerland – still the single most important source of investment capital for fund managers in Continental Europe – can still be accessed by foreign fund managers. It is easy to forget that the country is not even part of the European Union (EU)…

Link to Story at COOConect

Banks no longer seek ‘Swiss solution’

Have Swiss banks found a new religion?

They are now distancing themselves publicly from their belief in banking secrecy. Their new strategy: to influence global standards on the automatic exchange of client information.  “We’ve been fighting for banking secrecy for many years, but now we have changed our religion,” said Michel Dérobert, director of the Association of Swiss Private Banks…

Link to Story