You are here

Coutts purchase priced far below US$1b: UBP exec

Some headcount cuts in Switzerland likely, but minimal in Asia, given UBP's small presence here

BT_20150331_JLUBP31_1590823.jpg
"It's an asset deal, (which) means that you're paying in tranches, depending on how many clients would transfer, and so on. It's a complicated pricing, depending on the categories of clients. But it's far below (US$1 billion)." - Mr Longhini

Singapore

Union Bancaire Privée (UBP), which late last week announced its purchase of Coutts International, would pay far below US$1 billion for the freshly acquired assets under management (AUM), a top executive told The Business Times on Monday.

In beating out competitors said to

sentifi.com

Market voices on:

grab

Receive $80 Grab vouchers valid for use on all Grab services except GrabHitch and GrabShuttle when you subscribe to BT All-Digital at only $0.99*/month.

Find out more at btsub.sg/promo

Powered by GET.comGetCom