Deals
Swiss Banks Seek Takeovers to Resolve ‘Growth or Die’ Dilemma
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Swiss private bankers are pursuing acquisitions to boost profits as punitive tax agreements make the nation less attractive for rich foreign clients.
Union Bancaire Privee, the Geneva-based firm that ranked among the world’s biggest hedge fund investors as recently as 2008, agreed last month to buy ABN Amro Bank NV’s Swiss wealth-management unit for an undisclosed sum. Julius Baer Group Ltd. and Vontobel Holding AG have said they may make takeovers.