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REFILE-Vontobel sells Liechtenstein operation to Kaiser Partner‍​
December 7, 2017 / 10:57 AM / 5 days ago

REFILE-Vontobel sells Liechtenstein operation to Kaiser Partner‍​

(Refiles under new USN)

ZURICH, Dec 7 (Reuters) - Swiss private bank Vontobel is selling its Liechtenstein operation to wealth manager Kaiser Partner Privatbank, shifting a client portfolio with 1.4 billion Swiss francs ($1.41 billion) in assets under management.

The transaction is expected to close in the first quarter of 2018, subject to regulatory approval, the Zurich-based bank said on Thursday.

Both sides agreed not to disclose the terms of the deal that follows Vontobel’s decision to focus on its German and Swiss wealth management businesses. ($1 = 0.9912 Swiss francs) (Reporting by John Revill, editing by John Miller)

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