Trusted Novus Bank Limited to acquire Kaleido Privatbank AG
28 January 2022 – On 21 January 2022, Trusted Novus Bank Limited announced that it had entered into a binding agreement with AS Citadele banka regarding the sale of their Swiss subsidiary - Kaleido Privatbank AG, a boutique private bank based in Zurich. Trusted Novus Bank Limited will acquire 100% of Kaleido Privatbank AG. Closing of the acquisition is expected to be completed by year end 2022, subject to regulatory approvals. Trusted Novus Bank Limited is the oldest established bank in Gibraltar, offering full banking services to over 3,000 corporate and private clients.
Walder Wyss acted as legal advisor to Trusted Novus Bank Limited. The team was led by Francis Nordmann (Partner) and included Valentin Wiesner (Managing Associate), Roger Hofer (Senior Associate) and Etienne Trandafir (Associate).