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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

"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


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...

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