Lugano/Geneva (ots) - Acquisition Expands Banque Jacob Safra's
Private Banking Business Into Monaco. Sale Represents Additional Step
in Banca del Gottardo's Strategy Implementation.
Banque Jacob Safra (Suisse) SA, headquartered in Geneva, and Banca
del Gottardo, headquartered in Lugano, today announced an agreement
under which Banque Jacob Safra (Suisse) will acquire for cash Banque
du Gothard (Monaco) from Banca del Gottardo. The acquisition,
financial terms of which were not disclosed, will close as soon as
practicable following regulatory approvals.
With the acquisition of Banque du Gothard (Monaco), Banque Jacob
Safra (Suisse) will add a strong presence in Monaco's private banking
marketplace. The addition of Banque du Gothard (Monaco)'s CHF 3.5
billion of client assets under management will increase Banque Jacob
Safra's client assets under management to CHF 15 billion.
Marco J. Netzer, Chief Executive Officer at Banca del Gottardo,
said: "The sale of Banque du Gothard (Monaco) represents an important
step in the process of focusing our private banking activities and
has no impact on our financial targets, announced on October 6. We
are confident that this transaction places the clients and bankers of
the Monaco bank with another exceptionally strong organization that
is highly respected in the private banking marketplace."
Jacob J. Safra, Member of the Board of Banque Jacob Safra (Suisse)
SA, stated, "This acquisition strategically expands Banque Jacob
Safra's private banking business into the attractive Monaco market,
strengthening our ability to serve our worldwide client base. We look
forward to meeting the needs of the Monaco bank's clients and are
confident that they will benefit significantly from the Banque Jacob
Safra banking philosophy."
ots Originaltext: Banca del Gottardo
Banca del Gottardo, member of the Swiss Life Group, is
headquartered in Lugano (Switzerland) and located in Zurich, Geneva,
Lausanne, Bellinzona, Chiasso, Locarno, Bergamo, Milan, Rome,
Treviso, Turin, Athens, Luxembourg, Madrid, Monaco, Paris, Hong Kong
and Nassau (Bahamas).
Banque Jacob Safra (Suisse) SA has banks in Geneva, Zurich,
Lugano, Gibraltar and, upon this acquisition's closing, in Monaco.
The Safra family also owns banks with offices in Argentina, the
Bahamas, Brazil, Cayman Islands, Chile, France, Gibraltar, Israel,
Luxembourg, Mexico, Switzerland, the United States and Uruguay.
Banca del Gottardo
Viale S. Franscini 8
Banque Jacob Safra (Suisse) SA
70 Rue du Rhone
Mark Semer / Robert Siegfried
Kekst and Company - N.Y.