Bank Sarasin in Switzerland has appointed Yves Sarasin head of Central & Eastern Europe.
Sustainable investments by Europe’s wealthiest investors has increased by nearly 60% over the past two years, compared to an 18% increase in overall European high net worth wealth over the same period.
Former UBS and Credit Suisse banker Frédéric Luyet is to take over as head of the business unit Private Banking Suisse Romande at Bank Sarasin & Co. Ltd in Geneva.
Swiss banks face the prospect of losing 15%, or Sfr135bn francs ($139bn) of their assets as a result of Western Europeans taking their money onshore, said Herbert Hensle, global head of the Strategy & Transformation team of Cap Gemini SA, in a Bloomberg report.
All the necessary approvals from supervisory authorities have now been obtained, clearing the way for the Safra Group to acquire the majority shareholding in Bank Sarasin & Co. Ltd previously held by Rabobank. The closing of the transaction is expected for 31 July 2012
In one of the most difficult operating environments for Swiss private bankers in recent memory, Bank Sarasin today welcomed approval for J Safra Holding to buy a majority stake, while announcing it would soon cease business with some foreign clients who refused to provide it enough information regarding tax.
Bank Sarasin has named Lukas Stückelberger, as head of private banking (domestic Basel) with effect from 1 June 2012.
Bank Sarasin, the Swiss private bank whose employee leaked details of a currency transaction by the wife of SNB chairman Philipp Hildebrand, has filed a charge against the dismissed employee for violating bank client confidentiality and commercial secrecy.
Philipp Hildebrand, the governor of the Swiss National Bank (SNB), is embroiled in a growing furore after it was revealed that his wife Kashya sold SWF 500,000 in August, just days before the Swiss central bank intervened to hold down the appreciating currency with a cap of 1.20 to the euro.
Safra Group, an international conglomerate with private banking interests, has agreed to buy a controlling stake in Sarasin, a mid-sized Swiss private bank. Safra has entered a share purchase agreement with Rabobank Groep, in a deal worth more than CHF1bn.
Threadneedle hires Robson as fund manager global equities Threadneedle Investments has appointed Neil Robson as fund manager in its global equities team, reporting to Jeremy Podger, head of global equities. Hewill join in November and will be lead manager on the Threadneedle (Lux) global focus fund. Robson has more than 20 years’ experience in global equities. […]
Bank Sarasin is to open offices in Hamburg and Hannover, and has announced Andreas Brandt will join from Credit Suisse Deutschland to head up both the northern German outlets from Hamburg.