J. Safra Sarasin Group strengthens Gibraltar operations with the acquisition of Lombard Odier's Private Banking Business in Gibraltar
2 April 2019 – On April 1, 2019, the J. Safra Sarasin Group announced the signing of an agreement to acquire Lombard Odier's private banking business in Gibraltar. This acquisition includes the transfer of clients and their experienced relationship managers.
Following the acquisition of Credit Suisse (Gibraltar) Ltd in 2016, this transaction confirms the J. Safra Sarasin Group's leadership position in Gibraltar. The completion of the acquisition is expected in mid-2019, subject to regulatory approval.
Walder Wyss advised the J. Safra Sarasin Group on the transaction. The team was led by Patrick W. Vogel (Partner, Banking and Corporate/M&A) and included Laurent Schmidt (Associate, Banking and Corporate/M&A).