Cité Gestion Joins EFG in Major Acquisition Move
Deal News | Feb 20, 2025 | Legal Community Swiss
EFG International, a Swiss private bank, is set to acquire 100% of Cité Gestion, a Geneva-based private bank. The deal, announced on February 19, 2025, awaits regulatory approval and is projected to close in the second half of 2025. EFG International offers extensive private banking and asset management services globally. In contrast, Cité Gestion, which concluded 2024 with CHF 7.5 billion in assets under management and a net income of approximately CHF 6 million, specializes in serving ultra-high-net-worth individuals in Switzerland and beyond. Niederer Kraft Frey (NKF) served as legal advisors, with corporate/M&A partners Philippe Weber and Thomas Brnnimann spearheading the team.
Sectors
- Private Banking
- Financial Services
- Mergers and Acquisitions
Geography
- Switzerland – Switzerland is the primary geography of the involved companies, EFG International and Cité Gestion, both headquartered in Switzerland.
- Western Europe – Cité Gestion serves ultra-high-net-worth individuals in Western Europe, making it a relevant geographical classification.
- Latin America – Cité Gestion's clientele includes high-net-worth individuals in Latin America.
- Middle East – Cité Gestion caters to ultra-high-net-worth individuals in the Middle East.
Industry
- Private Banking – The article discusses the acquisition of a Swiss private bank, highlighting the significance of personal banking services for high-net-worth individuals.
- Financial Services – EFG International and Cité Gestion are involved in offering a range of financial services, including asset management and banking.
- Mergers and Acquisitions – The article primarily deals with an acquisition transaction in the financial sector, highlighting the M&A activity.
Financials
- CHF 7.5 billion – Cité Gestion's Assets under Management in 2024.
- CHF 6 million – Cité Gestion's net income for the financial year 2024.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| EFG International | Bidding Company | Company | A Swiss private bank providing banking and financial services globally. |
| Cité Gestion | Target Company | Company | A Swiss financial institution specializing in services for ultra-high-net-worth individuals. |
| Niederer Kraft Frey (NKF) | Legal Advisor | Company | A law firm that provided legal advising services for EFG International in the acquisition. |
| Philippe Weber | Corporate/M&A Partner | Person | One of the lead partners from NKF on the acquisition matter. |
| Thomas Brnnimann | Corporate/M&A Partner | Person | One of the lead partners from NKF on the acquisition matter. |