EFG International Completes Acquisition of Cité Gestion

Deal News | Feb 24, 2025 | Legal Community Swiss

EFG International Completes Acquisition of Cité Gestion

EFG International, a Swiss private bank, has finalized its acquisition of Cité Gestion, a Geneva-based Swiss financial institution specializing in services for ultra-high-net-worth individuals. The acquisition is positioned to expand EFG's influence in the private banking sector. Legal counsel for the transaction included Niederer Kraft Frey representing the buyer, while the selling part was advised by Lenz & Staehelin. The transaction is expected to close in the latter half of 2025 pending regulatory approval. Cité Gestion concluded the 2024 financial year with a net income of approximately CHF 6 million and assets under management totaling about CHF 7.5 billion. The merger signifies potential for growth in Switzerland and strategic international markets operated by both entities.

Sectors

  • Finance
  • Legal Services

Geography

  • Switzerland – The acquisition involves Swiss private banks and legal advisories, highlighting the activity in the Swiss financial market.
  • Global – EFG International operates in 40 locations worldwide, indicating a global reach that impacts international markets.

Industry

  • Finance – The article focuses on the acquisition within the financial industry involving private banking and asset management services provided by EFG International and Cité Gestion.
  • Legal Services – Includes legal advisory services provided during the transaction by firms Niederer Kraft Frey and Lenz & Staehelin.

Financials

  • CHF 7.5 billion – Cité Gestion's Assets under Management as of the 2024 financial year.
  • CHF 6 million – Net income of Cité Gestion at the end of the 2024 financial year.

Participants

NameRoleTypeDescription
EFG InternationalBuyerCompanyA Swiss private bank offering global private banking and asset management services.
Cité GestionTarget CompanyCompanyA Swiss financial institution based in Geneva, focusing on services for UHNWIs with assets under management of approximately CHF 7.5 billion.
Niederer Kraft FreyLegal Advisor to BuyerCompanyA law firm advising EFG International on the transaction.
Lenz & StaehelinLegal Advisor to SellerCompanyA law firm representing Cité Gestion in the transaction.