Fri, Apr 25, 2014
A A A
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

Banner
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. Opalesque Exclusive: Rainwater and Blue Sky - an Australian water fund emerges[more]

    Bailey McCann, Opalesque New York: Financial reporters often tout new funds and investments as uncorrelated investments, but few can say they are uncorrelated to everything but weather. Enter Blue Sky Alternative's water fund which invests in the permanent rights to Australia's water. Sev

  2. Regulatory – Expect greater SEC scrutiny of hedge funds that share information or collaborate in advance of their trades, Alternative funds to get SEC test for leverage, liquidity[more]

    Expect greater SEC scrutiny of hedge funds that share information or collaborate in advance of their trades From Thelawyer.com: A recent Wall Street Journal article — ‘Activist investors often leak their plans to a favoured few’ — focused attention on ‘activist’ investors and stock analy

  3. …And Finally – This week's least competent criminal is Austrian[more]

    From ABCnews.go.com: A German sought by authorities for alleged fraud has been arrested in Austria — after dropping into a police station to ask officers whether he was under investigation. Police in Salzburg said the 59-year-old man walked into a police station in the city on Friday night. Sp

  4. Investing – Hedge funds find pitfalls along with profits in real estate ventures, Marcato Capital Management makes new bet on Dillard’s[more]

    Hedge funds find pitfalls along with profits in real estate ventures From Law360.com: Hedge funds have joined the rush to real estate deals and development in recent months to close the financing gap left by tightening bank standards, but attorneys say many aren't prepared for the disclo

  5. Agecroft Partners estimates 90% of hedge funds using social media[more]

    The use of social media has increased significantly within the hedge fund industry over the past couple of years. Social media is broadly used by investors as part of their due diligence process on hedge funds, by service providers in their sales efforts to hedge funds, and by hedge funds to enhance