Fideuram – Intesa Sanpaolo Private Banking, the private banking division of the Intesa Sanpaolo Group, and REYL & Cie SA have entered into a long-term strategic partnership, under which Fideuram will acquire a 69% interest in REYL and assign its Swiss subsidiary Intesa Sanpaolo Private Bank (Suisse) Morval SA to REYL.
Following the transaction, which is subject to regulatory authorization, the combined bank will remain headquartered in Geneva and count approximately 400 employees, more than CHF 18 billion assets under management and a regulatory net capital of around CHF 250 million.
Bär & Karrer acted as Swiss counsel to Fideuram, alongside lead counsel Pedersoli Studio Legale. The Bär & Karrer team included Cédric Chapuis, Christophe Hensler, Arnaud Philippe (all M&A and Banking) and Christoph Suter (Tax).
More from Bär & Karrer Ltd.