One Swiss Bank and Banque Profil de Gestion merger. The advisors

One Swiss Bank and its shareholders entered into a merger agreement with Banque Profil de Gestion, which closed on June 1, 2021 following the grant of the necessary authorizations and the fulfilment of other conditions precedent pursuant to the share purchase and merger agreements executed in February 2021.

The buyout by Banque Profil de Gestion (BPDG) of 100% of the capital of One Swiss Bank (One) and the buyback by the shareholders of the company One of 8,716,810 shares – representing 57.61% of the capital – of BPDG in the hands of Banca Profilo (Profilo) was exectuted.

Following the merger, after a general meeting held on June 4, 2021, the bank took the name One swiss bank and changed the composition of its board of directors and its management. Assets under management of the merged bank now amount to nearly CHF 5 billion distributed around the three business lines of wealth management, asset services and asset management.

The legal teams

Kellerhals Carrard acted as legal counsel for One Swiss Bank and its shareholders in the merger transaction with Banque Profil de Gestion. The team was led by Frédéric Rochat (partner, pictured top), as well as Anne-Gabrielle Piaget (commercial law aspects) and Cendrine Rouvinez (labour law matters).

BianchiSchwald acted as legal counsel for Banque Profil de Gestion in its purchase of One Swiss Bank. BianchiSchwald team was led by Thomas Goossens (managing partner and head of the banking & finance practice, pictured left) and Hélène Weidmann (partner in the corporate – m&a practice), and also included Joseph Merhai and Sébastien Maury (both partners, respectively, head and member of the tax practice), Stéphanie Fuld (partner, head of the Labour Law practice), as well as Elodie Le Guen (managing associate, labour law practice), Alexandra Schuvalov (associate banking & finance), Federico Abrar (associate tax) and Thierry Burnens (associate ip and data protection).

One swiss bank

In terms of business development, the bank will employ 75 people at term in its offices in Geneva, Lugano, Zurich and Dubai. In addition to that, One swiss bank announced on June 1, 2021, the signature of a share purchase agreement for the acquisition of Falcon Private Wealth in Dubai. This transaction will allow the bank to expand its footprint in the Middle East. The Dubai entity currently manages around 500 million dollars.

Banca Profilo has acquired the Swiss company Dynagest, which operates in the field of institutional asset management with assets of around 2 billion francs. The development of a new range of services based on the skills of Dynagest by ONE for private clients is one of their first missions with the implementation cost savings and merging IT platforms.