1. Newsroom
  2. UBP to acquire the RBS International PB and Wealth Management business
Menu
Press Releases 27.03.2015

UBP to acquire the RBS International PB and Wealth Management business

UBP to acquire the RBS International PB and Wealth Management business

Union Bancaire Privée, UBP SA (“UBP”) is pleased to announce that it has reached an agreement to acquire The Royal Bank of Scotland’s (“RBS”) International Private Banking and Wealth Management business, currently branded as Coutts. The sale, which follows RBS’ decision to create a UK-focussed bank, includes business managed from Switzerland, Monaco, the Middle East, Singapore and Hong Kong, and assets under management of over CHF 30 billion.

The acquisition represents a major step forward in the Bank’s growth strategy, enabling it to both broaden its wealth management activities and to further its global reach.

The acquisition is an excellent strategic and geographic fit as the international business of Coutts has a strong foothold in markets where, until this point, UBP had a limited presence. UBP will also strengthen its presence in Switzerland and in Monaco, significantly boost its footprint in growth markets such as Central and Eastern Europe, the Middle East and Asia, and considerably increase its asset base in select European markets.

Guy de Picciotto, UBP’s CEO, stated: “This acquisition confirms our commitment in further developing our
wealth management business and represents a significant milestone in our growth strategy.

This is particularly true for high-potential markets such as Asia, where the international business of Coutts has built long-standing relationships with high net worth clients. We look forward to welcoming the new teams; their breadth of know-how in wealth management will perfectly complement our investment management expertise”.

Clients will benefit from UBP’s conviction-driven investment approach. Furthermore, UBP maintains a solid financial base and a high capital ratio as a result of its conservative approach to risk management thus allowing the Bank to further invest in key development areas. In addition, the Bank’s proven operational efficiency and past experience in successfully integrating previous acquisitions will ensure a smooth transition for the clients of this business.

The transaction, carried out with the support of Caurus Partners and TC Capital, remains subject to the
requisite regulatory and other approvals being obtained. In this regard UBP will seek to obtain a banking
license in Hong Kong, subject to the approval of the local regulatory authority.

Expertise

Impact investing - Contributing to a more sustainable future

What are the key features of impact investing?

Read more

Most read

Press Releases 14.05.2020

UBP launches a new emerging markets impact strategy

Union Bancaire Privée (UBP) today announces the launch of a new emerging equity solution broadening its impact investment platform.

Press Releases 22.07.2020

UBP partners with fintech QuantCube Technology

Union Bancaire Privée partners with fintech QuantCube Technology to develop innovative equity stock-picking strategies.

Press Releases 17.07.2020

First half-year results 2020

Union Bancaire Privée announces a net profit of CHF 107.6 million for the first half of 2020

Further reading

Press Releases 22.07.2020

UBP partners with fintech QuantCube Technology

Union Bancaire Privée partners with fintech QuantCube Technology to develop innovative equity stock-picking strategies.

Press Releases 17.07.2020

First half-year results 2020

Union Bancaire Privée announces a net profit of CHF 107.6 million for the first half of 2020

Press Releases 16.07.2020

UBP launches a new corporate governance-focused strategy

Union Bancaire Privée, UBP SA (“UBP”) has recently added a new strategy to its alternative UCITS platform. The market-neutral and sector-neutral strategy will invest in Japanese equities and focus on individual companies’ corporate governance.