Swiss private bank Vontobel has agreed to acquire 100% of Notenstein La Roche Private Bank from Raiffeisen Switzerland in a deal worth around CHF700m.

Notenstein La Roche has 13 branches in Switzerland and manages nearly CHF16bn in client assets. Majority of its clients are in Switzerland. The Swiss private bank also caters to clients in other international markets, including Germany.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

The sale frees up regulatory capital that can be utilised to grow Raiffeisen’s core business, Vontobel said.

Raiffeisen Switzerland chairman of the executive board and Notenstein La Roche chairman of the board of directors Patrik Gisel said: “The decision to sell does not represent a move away from Raiffeisen’s diversification strategy.

“On the contrary, we want to focus on our established client base, which also includes wealthy private clients, and expand it together with our Raiffeisen banks by offering an even broader and more effective range of products and services.”

The deal is expected to be close in the third quarter of this year, subject to regulatory approval. The deal will be funded using Vontobel’s available capital and an additional Tier 1 bond.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Vontobel CEO Zeno Staub said: “The acquisition of Notenstein La Roche and its branch network strengthens our service offering on our home market and vindicates our claim to be a leading global wealth manager with solid Swiss roots. Our future clients will benefit from the opportunities and expertise offered by an internationally active Swiss wealth manager that puts clients at the centre of everything it does.”