Banque Profil de Gestion acquires Dynagest

Banca Profilo’s Swiss subsidiary Banque Profil de Gestion (BPDG) signed an agreement on 2 July for the acquisition of Geneva-based broker and fixed income adviser Dynagest SA.

The operation is expected to increase BDPG’s assets under management to some CHF3bn (€2.5bn) while strengthening its institutional asset management skills, thanks partly to the move of 20 members staff from Dynagest to the private bank.

Subject to regulatory approval by FINMA – the Luxembourg Financial Services Supervision Commission – and all communications required by the Bank of Italy, the acquisition is expected to take place on 30 September 2018.

The operation had been announced on 24 April, when both companies signed a binding agreement for the acquisition.

Dynagest’s brokerage margin amounted to CHF 7.2M (€6.02m) as of the end of March 2017.

ABOUT THE AUTHOR
Eugenia Jimenez
Eugenia Jiménez speaks Spanish and is Iberia Correspondent for Investment Europe covering Spain & Portugal, as well as assisting with coverage of Italy. She holds a UK NCTJ- accredited Multimedia News Reporting course and studied Journalism at the University of Sevilla. She has worked for local media organisations in Sevilla and Málaga, mainly in broadcasting as a news reporter, among other roles. She has also worked for a local newspaper in Sevilla, reporting on current affairs, local government and culture.

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