Falcon Private Bank has agreed to acquire Clariden Leu (Europe) Ltd, a wholly owned subsidiary of Credit Suisse Group AG based in London, United Kingdom.
Clariden Leu (Europe) Ltd. offers wealth and asset management services to private clients in the key markets Eastern Europe, Middle East and Africa and other emerging markets. Subject to legal and regulatory approvals, the closing is expected in the first quarter of 2013.
“This acquisition brings us one decisive step forward in our strategic ambition to become a leading Swiss Private Banking boutique focusing on emerging markets. We look forward to broadening our global footprint with London as one of the world’s major financial centers and expanding our horizons together with our new colleagues” says Eduardo Leemann, Chief Executive Officer of Falcon Private Bank.
“We foresee to keep the successful business model and existing custodial arrangements of Clariden Leu (Europe) Ltd, which has positioned itself as a leading wealth manager for High and Ultra High Net Worth Clients in its target markets. Apart from changing to a new owner and a new name, Clariden Leu (Europe) Ltd. will remain an independent asset manager” Eduardo Leemann adds.