Geneva-based private bank Gonet & Cie has agreed to acquire the Swiss arm of Belgian group Banque Degroof Petercam for an undisclosed sum.
Under the terms of the agreement, Banque Degroof Petercam (Suisse) will be merged with and into Gonet & Cie, following the acquisition of all the equity from the sole shareholder Banque Degroof Petercam.
The combined entity will have assets under management of around CHF5.5bn (£4.4bn, $6bn, €5.3bn).
The merger between Gonet & Cie and Banque Degroof Petercam (Suisse) will apply retroactively as of 1 January 2022, subject to regulatory approval.
Nicolas Gonet, chief executive of Gonet & Cie SA. “This merger with Banque Degroof Petercam (Suisse) SA, a private bank with a long history in Geneva, marks the next milestone in our selective growth story and presses our claim to rank among those actively shaping Geneva as a financial centre.”
Philippe Monti, chief executive of Banque Degroof Petercam (Suisse), added: “We’re delighted to be teaming up with Gonet & Cie. We share the same family-led values and entrepreneurial spirit that currently resonate strongly in the rapidly evolving private banking sector.”
The Degroof Petercam Group will continue providing institutional services in Switzerland through Degroof Petercam Asset Management SA (DPAM).