Union Bancaire Privée (UBP) is set to acquire Danske Bank’s wealth management business in Luxembourg (DBI).
The acquisition should broaden UBP’s Luxembourg activities, with assets under management in the country expected to amount to CHF 33 billion post-completion.
The transaction, which is an asset deal, is expected to complete in Q4 2021.
DBI specialises in international private banking and has had a presence in Luxembourg since 1976.
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