UBP Snaps Up ABN Amro's Swiss Outfit

Law360, New York (August 16, 2011, 7:11 PM EDT) -- Geneva-based Union Bancaire Privee UBP SA on Tuesday announced plans to acquire ABN Amro Bank (Switzerland) AG for an undisclosed amount in cash.

According to UBP, the deal represents a 20 percent increase to its overall assets under management and expands its Swiss private banking business. It comes at a time when the buyer is fighting to recover from steep losses amid the economic crisis.

The target, a subsidiary of Netherlands-based ABN Amro Bank NV, is a pure Swiss private bank that managed €11 billion in...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.