Union Bancaire Privée (UBP) has agreed to acquire the Swiss private bank of Banco Comercial Português, S.A. (BCP) - Millennium Banque Privée - BCP (Suisse) SA.
The transaction, which is a share deal, is expected to complete during the fourth quarter of 2021.
Founded in Geneva in 2002, Millennium Banque Privée is fully owned by BCP. The Swiss entity provides private banking services for individual and institutional clients, with a focus on Europe, Latin America and Africa.
The acquisition should increase UBP’s assets under management – which were CHF 147.4 billion at 31 December 2020 - by over CHF 4 bil...
