The merged bank will have a presence in Switzerland, the Bahamas, and Dubai. Credit: Arab Bank Switzerland.

Swiss private banks Gonet & Cie and ONE swiss bank have announced a merger, expected to help establish a ‘leading’ force in the wealth and asset management sector.

The deal will see Gonet acquire a majority stake in ONE, with the merged bank having a significant presence in Switzerland, the Bahamas, and Dubai.

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Arab Bank (Switzerland) has a majority stake in the family holding that owns Gonet & Cie. 

This move aligns with the Arab Bank Switzerland Group’s growth ambitions, with assets under management nearing CHF20bn ($22.6bn) post-merger.

Post-merger, the unified bank will operate under the Gonet brand, with Jean-René Lepezel, current CEO of Gonet & Cie SA, at the helm.

Gonet & Cie CEO Jean-René Lepezel said: “This alliance with the teams and expertise of ONE swiss bank is a great opportunity to scale up together and to offer our respective clients an even wider range of products and services. This opens up a new and very promising chapter for our Institution.”

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The new entity will enhance its asset management services for institutional clients through ONE’s division Dynagest.

The combined expertise of Dynagest and Gonet’s asset management teams will manage assets of around CHF12bn ($13.5bn).

ONE swiss bank CEO Grégoire Pennone said: “This is a natural stage in our development and builds on the steps we have been taking since the end of 2015.

“A renewal and simplification of our shareholding structure had become necessary to continue our growth and meet the challenges of our sector.”

Pending regulatory approval, the completion of the legal merger is targeted for 30 June 2025. Until then, both banks will maintain their individual identities and governance structures.

Gonet & Cie, established in 1845, offers wealth management services for private clients and independent wealth managers. ONE swiss bank offers comprehensive services to private, institutional clients, and financial intermediaries.