Swiss Financial Market Supervisory Authority (FINMA) has approved the sale of Dynagest AG, which was once partly owned by Raiffeisen Group, to Geneva based Banque Profil de Gestion SA (BPDG).
The operation was announced on 24 April 2018, when both companies signed a binding agreement for the acquisition. The deal now it has been registered in the Geneva trade register.
This acquisition by BPDG is a part of the three-year plan to increase the assets under management of the bank to some CHF3bn (€2.5bn). It will triple its client assets from CHF940m at the end of last year to around CHF3bn.
The Geneva bank will absorb 20 employees from Dynagest.