Luxembourg-based Banque Havilland has acquired Swiss bank, Banque Pasche in a push to expand its reach to ultra-high net worth individuals.
Following the completion of the acquisition of Banque Pasche’s share capital, the bank will be renamed Banque Havilland (Suisse) S.A.
This purchase comes just three months after the Luxembourgese bank acquired Banco Populare Luxembourg S.A.
Approved by supervisory authorities, the acquisitions play into the banks’ plans to expand its ultra-high net work (UHNW) client base in Europe.
Headquartered in Geneva with a branch in Zurich, Banque Pasche, now Banque Havilland (Suisse) S.A., has about 40 employees and is an international network of private banks and family offices specialising in asset management for a ‘select’ clientele.
Company literature describes the ‘select’ clients as: ‘the upper echelons of finance, sports or the art world.’
Commenting on the banks’ latest acquisition, Jean-François Willems CEO at Banque Havilland, said: ‘With this acquisition, the Banque Havilland Group marks its entry into Switzerland, the home of private banking.’
‘Our commitment to establish a presence here reflects our global strategy to provide a platform offering full coverage of private banking products in the significant banking centres across the world.’
With offices now in nine different locations and 170 employees company-wide, Banque Havilland is based in Luxembourg, London, Monaco, Liechtenstein, The Bahamas, Moscow and Dubai.
