KBL epb Returns to Switzerland With Acquisition of Bank am Bellevue

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ZURICH and LUXEMBOURG, Aug. 20, 2019 /PRNewswire/ -- KBL European Private Bankers (KBL epb), the pan-European private banking group founded in 1949, announced today the signing of an agreement to acquire Zurich-based Bank am Bellevue, the wealth management business of the Bellevue Group, a diversified financial services company listed on the SIX Swiss Exchange. 

 

The acquisition of Bank am Bellevue – which currently employs 22 staff and manages some €1.6 billion in assets – marks KBL epb's return to Switzerland as part of its ambitious growth strategy under the leadership of Jürg Zeltner, who was recently appointed Group CEO and member of the Board of Directors. 

Following closing of the acquisition – expected in the first quarter of next year, subject to regulatory approval – KBL epb will seek to expand Bank am Bellevue's base of domestic and international clients, leveraging the country's status as a global private banking hub and KBL epb's own 50-city network.  

According to Zeltner, who has taken a significant ownership stake in KBL epb, the group intends to rapidly recruit additional staff in Switzerland, with a particular focus on relationship managers, to complement Bank am Bellevue's current team.  

KBL epb also announced that, effective September 1, 2019, Dagmar Kamber Borens will join the Group as the prospective CEO of its Swiss business, assuming that role upon closing of the transaction and subject to regulatory approval.  

Over the interim period, she will focus on developing a compelling growth strategy for this key component of the group's future business, drawing upon her significant experience designing and implementing successful transformation programs in Asia and Switzerland. 

Kamber Borens most recently served as Chief Operating Officer for the Swiss unit of Credit Suisse. She earlier served for nearly two decades at UBS in Zurich, London and Singapore in various senior positions.  

Commenting on KBL epb's seventh acquisition in the past five years, Zeltner said: "With talented staff, strong client relationships and scalable infrastructure, Bank am Bellevue is an ideal fit for us. Together with that team and under the future leadership of Dagmar, we look forward to putting down roots and growing a robust Swiss business that meets the needs of both domestic and international clients. 

"Even as we continue to make major investments to expand our footprint and accelerate our growth, we will retain the agility that comes with smaller size," said Zeltner. "We're eager to introduce our unique approach – as an advice-led organization that cuts through complexity and focuses on client interests – to one of the world's most important wealth management markets." 

André Rüegg, CEO of the Bellevue Group, commented: "We are pleased that KBL epb will take over our bank, providing staff and clients a promising set-up to further expand innovative wealth management services. With its comprehensive expertise and experience, KBL epb is the perfect partner to develop the bank and offer personalized services to high net worth individuals. 

"Moving forward, the Bellevue Group will focus on its asset management as well as its private market activities," Rüegg concluded, noting that KBL epb and the Bellevue Group will also jointly explore opportunities to collaborate in the area of asset management, including in the global healthcare sector, where the Bellevue Group possesses particular expertise. 

About KBL European Private Bankers: 

KBL European Private Bankers (KBL epb), founded in 1949, is headquartered in Luxembourg and operates in 50 cities across Europe, staffed by some 2,000 professionals.  

Widely recognized as a private banking leader, the KBL epb group serves wealthy individuals and their families, as well as a broad range of institutional and professional clients, including family offices, foundations and external asset managers. 

The KBL epb group operates under the following domestic brand names: 

With the full support of its shareholder, Precision Capital, a Luxembourg-based bank holding company, KBL epb continues to consolidate its leadership status across Europe. For further information about the KBL epb group, please visit: www.kbl.lu  

About the Bellevue Group: 

The Bellevue Group is an independent Swiss financial boutique listed on the SIX Swiss Exchange. Established in 1993, the company and its approximately 100 professionals are mainly active in the areas of asset management, wealth management and direct equity investment. The asset management segment offers a select range of active equity strategies in fast-growing markets, the healthcare sector and in other special themes such as owner-managed companies, as well as successful holistic investment strategies across all traditional asset classes. Bank am Bellevue offers first-class wealth and investment advisory services with a special focus on entrepreneurial private clients. Adbodmer specializes in developing, facilitating and managing private market investments, with a focus on SMEs in the German-speaking DACH region of Europe, building bridges between promising growth companies and an exclusive group of investors. 

For further information about the Bellevue Group, please visit: www.bellevue.ch