BSI Bank ready to samba under new Brazilian owner
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BSI Bank, one of the oldest Swiss banks, is finally out of the freezer and is raring to go under its new Brazilian owner.
On Monday, Brazilian investment bank BTG Pactual announced it had bought the 140-year old BSI, established in Lugano (Switzerland), from Italian insurer Generali for 1.5 billion Swiss francs (S$2.07 billion).
BSI is already a midfield private bank player and with the latest development will "make the huge leap forward", said Hanspeter Brunner, chief executive of BSI Asia, yesterday in a mini press conference.
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