After establishing its first merchant bank in the UK, Edmond de Rothschild Group has launched a new asset management business in London to upsize its assets under management and boost its presence in the UK capital.
Switzerland
BNP Paribas says it will purchase Polish unit of Rabobank Groep in EUR 1 billion deal
BNP Paribas, the largest bank in France, said it will be buying Bank Gospodarki Zywnosciowej, the Polish arm of Dutch bank Rabobank Groep, for EUR 1 billion.
Ulrich Koerner is new UBS head of global asset management
Swiss bank UBS Ag said Ulrich Koerner will be replacing John Fraser as Head of Global Asset Management. Fraser is set to retire by the end of month.
Credit Suisse sells private customers business to German Bethmann Bank
Switzerland's Credit Suisse is selling its private customers business to German Bethmann Bank. Under the deal, Bethmann will take over Credit Suisse's 9,000 clients with EUR10 billion assets in Germany.
Credit Suisse to divest private equity interests in DLJ Merchant Banking Partners
Swiss banking group Credit Suisse has put up for sale its remaining limited partnership interests in leveraged buyout firm DLJ Merchant Banking Partners. British private equity firm Coller Capital will be acquiring the assets.
Latest News
Australia-based diagnostic device firm Sun Biomedical had been negotiating the acquisition of biodegradable heart surgery device Parvulus Medical in an exclusive arrangement that will conclude on January 15.
Credit Suisse is promoting veteran Swiss investment banker Thomas Gottstein to head up its ultra-rich clients business in Switzerland, highlighting the expertise increasingly sought by private banks to cater to their wealthiest customers.
Italy's richest man Giovanni Ferrero said that chocolate company Ferrero SpA has no plans to go public or sell out to a bigger rival. Ferrero unveiled his company's vision to expand in Asia and the US in the next decade.
German multimodal journey planner startup FromAtoB received a seven-figure Series A investment from investors French venture capital firm Seventure Partners and Chief Executive Officier of Ecommerce Alliance Daniel Wild.
According to a research study by Dow Jones & Company, Ireland attracted the most venture capital funding per capita in the European region. The data showed that most Irish tech startups have fared well even during the economic recession.
Teck Resources, Newmont Mining, Magris Resources and private equity firm Blackstone Group are reportedly bidding for Glencore Xtrata's Las Bambas copper mine in Peru. Las Bambas' estimated end-2014 valuation is at USD6.9 billion.
UK's Amec Plc is looking to acquire NASDAQ-listed Foster Wheeler AG. If the deal eventually pushes through, it could generate GBP5 billion (USD8 billion) for the Geneva-based engineering and power conglomerate.
French investment firm Wendel and Nordic Capital are the remaining bidders for Germany's medical patch maker LTS Lohmann. The acquisition deal could bring in EUR1.2 billion to the company owned by Novartis, BWK and German tycoon Dietmar Hopp.
Following a nuclear deal reached in Geneva, the European Union has removed the ban on insuring tankers transporting Iranian oil. The EU also agreed to release USD4.2 billion in frozen oil assets and permit Iranian crude exports to continue at its current levels.
