Thu, Oct 8, 2015
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

UBP to buy Swiss asset management branch of Banco Santander - Le Temps

Thursday, June 07, 2012

Benedicte Gravrand, Opalesque Geneva: UBP is to buy the Swiss asset management branch of Banco Santander, according to Swiss and Spanish media reports.

Union Bancaire Privée (UBP), the Geneva-headquartered Swiss bank, confirmed the event to Swiss daily paper Le Temps yesterday. The bank stated that it was not buying back Banco Santander’s Swiss entity as it is now. Rather UBP is studying various options to service some of the Spanish bank’s clients. We do not know yet the amount of the transaction and nor the AuM.

According to Le Temps, the acquisition of this branch of Banco Santander, itself one of Spain’s largest banks, by UBP did not surprise the Geneva financial place as there had been a rumour about it for a while. But it was even less surprising as Spanish banks, many of which in serious financial troubles, are currently trying to offload part of their non-essential businesses. Santander - although one of the healthiest banks in Spain - sold a 51% stake of its Colombia branch for $624m last week, for example.

The Spanish bank, through its Geneva-based fund......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Investing - AQR Capital and Renaissance Technologies raise stakes in Southwest Airlines[more]

    From In the previous part of this series, we saw how institutional investors played Southwest Airlines (LUV) in 2Q15. Now let’s move on to the trades executed by key hedge funds in Southwest Airlines over the same period. … Most of the hedge funds that had significant exposu

  2. Manager Profile - Pimco alternative funds flourish as 30-year bond rally fades[more]

    From Inside Pacific Investment Management Co., the bond behemoth that lost two chief investment officers last year and saw almost $500 billion of client money leave, a hidden profit engine is easing some of the pain. For more than a decade, Newport Beach, California-based Pimco has qu

  3. Niche Investing - Art investment funds: Attracting institutional and other new investors[more]

    From The Deloitte/ArtTactic Art and Finance Report 2014 (the "Art and Finance Report") noted that the "global art investment fund market was estimated to be worth at least $1.26 billion in the first half of 2014." This seems almost inconsequential when juxtaposed with the $54 billion of

  4. Hedge fund Barnegat survives September’s market selloff[more]

    Komfie Manalo, Opalesque Asia: Bob Treue’s $679 million Barnegat Fund proved resilient after another month of market letdown as the hedge fund gained 2.2% last month, bringing its year-to-date gains to 2.8%. Treue said in his monthly report to i

  5. …And Finally - Japanese men want upgrade on their virtual girlfriends[more]

    From Five years after News of the Weird mentioned it, Japan's Love Plus virtual-girlfriend app is more popular than ever, serving a growing segment of the country's lonely males -- those beyond peak marital years and resigned to artificial "relationships." Love Plus models (Rinko