Gonet Merger: Swiss Private Banks Unite
Deal News | Nov 22, 2024 | Legal Community Swiss
Bär & Karrer has advised Gonet & Cie in acquiring a majority stake in One Swiss Bank SA, leading to a merger that will establish a formidable presence in the Swiss wealth and asset management sector. The merger, pending regulatory approval and expected to conclude in the second quarter of 2025, aims to consolidate the two banks' operations under the Gonet brand, with assets under management nearing CHF 20 billion due to Arab Bank Switzerland's majority ownership. Kellerhals Carrard provided advisory services for One Swiss Bank SA. The newly merged entity is set to enhance its product and service portfolio, expand business both within Switzerland and internationally, thus solidifying a significant position in the financial marketplace.
Sectors
- Financial Services
- Legal Services
Geography
- Switzerland – Both Gonet & Cie and One Swiss Bank SA are Swiss private banks, and their merger is within the Swiss financial market.
Industry
- Financial Services – The article discusses the merger of two private banks, highlighting their role in wealth and asset management.
- Legal Services – The article mentions legal advisory roles provided by Bär & Karrer and Kellerhals Carrard during the merger process.
Financials
- CHF 20 billion – The expected assets under management for the merged entity under Arab Bank (Switzerland) Group.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Gonet & Cie | Target Company | Company | A Swiss private bank founded in Geneva in 1845, involved in the acquisition and subsequent merger process. |
| One Swiss Bank SA | Selling Company | Company | A Swiss private bank with offices in Geneva, Lugano, Zurich, and Dubai; involved in the merger process. |
| Arab Bank (Switzerland) | Majority Owner | Company | The group holds majority ownership in the merged entity with combined assets under management nearing CHF 20 billion. |
| Bär & Karrer | Legal Advisor | Company | Acted as legal advisor for Gonet & Cie and Arab Bank Switzerland Group on the merger. |
| Kellerhals Carrard | Legal Advisor | Company | Provided legal advisory services for One Swiss Bank SA. |
| Martin Anderson | Lead Partner | Person | Lead partner from Bär & Karrer overseeing the legal advisory during the merger. |