Reyl & Cie has acquired a 40 percent stake in 1875 Finance Holding.
The private bank has received approval from the Swiss Financial Market Supervisory Authority (FINMA) and the Luxembourg Financial Sector Supervisory Commission (CSSF) to go ahead with the acquisition.
Co-founders Olivier Bizon, Paul Kohler, Aksel Azrac and Jacques-Antoine Ormond will jointly retain control of 60 percent of 1875 Finance.
The partnership intends to create transversal revenue and development opportunities for both REYL & Cie and 1875 Finance.
A press statement by REYL & Cie stated the transaction...