Puilaetco Dewaay agrees to acquire UBS Belgium
BBR Personnel Author
Released 14 Nov 2014
Puilaetco Dewaay Private Bankers has actually signed an agreement to obtain Belgian operations of Swiss wide range manager, UBS.
Puilaetco Dewaay Private Bankers has actually signed an agreement to obtain Belgian operations of Swiss wealth manager, UBS.Covering transfer of the team, customer connections and also client assets of UBS Belgium, the agreement is expected to reinforce Puilaetco Dewaay’s domestic franchise business and position it as a leading 3 pure-play exclusive financial institution in Belgium.Employing 60 personnel, including 20 exclusive lenders, the acquired business takes care of greater than €& euro; 3bn in possessions, and also has nearly 2,500 clients.Combining the two Belgian sites, Puilaetco Dewaay will certainly manage greater than €& euro; 10bn in possessions and serve virtually 10,000 clients.KBL Team primary exec officer Yves Stein said: “Each time when the personal financial sector is combining, we are extremely delighted to be able to expand our visibility in Belgium – additional boosting the already really good expectation for our business and also our folks, and also offering a variety of new benefits for the customers of Puilaetco Dewaay.”Puilaetco Dewaay Private Bankers ceo Thierry Smets claimed: “Building after our sturdy recent development, this deal stands for a superior opportunity, in a very affordable atmosphere, to quickly expand our group, satisfy raised demand as well as lay the structure for faster future growth.”The combined entity will operate under the brand name ‘Puilaetco Dewaay Private Bankers,’ to supply customers with accessibility to improved advisory and also discretionary services, while remaining to concentrate on offering lasting, individualized wealth management services and also open architecture financial investment solutions for its high-net-worth specific clients.In addition, the clients of the consolidated company will certainly further profit from accessibility to the items, solutions, proficiency and also reach of KBL European Private Bankers (epb), whose long-term development strategy targets organic, semi-organic and also exterior growth.Subject to regulatory approvals, the regards to transaction, whose value remain undisclosed, is anticipated to finish in the initial fifty percent of 2015. Photo: Puilaetco Dewaay Private Bankers has signed an arrangement to acquire Belgian procedures of UBS. Photo: MonteCarloGenerator.