NKF advises Nicolas Gonet and Gonet & Cie with Arab Bank

Niederer Kraft Frey advised Nicolas Gonet and Gonet & Cie on the strategic business partnership with Arab Bank (Switzerland). As we have informed here, the new banking group will be a major actor in the Swiss wealth management industry, with assets under management in excess of CHF 10 billion.

The Swiss private bank Gonet & Cie, founded in Geneva in 1845, and Arab Bank Switzerland, a Geneva-based bank created by Jordanian shareholders in 1960, entered into a strategic business partnership. Following the approval by the Swiss Financial Market Supervisory Authority FINMA, the transaction is now completed.

Arab Bank Switzerland has acquired a majority stake in the family holding company owning Gonet & Cie. The two banks will combine their offer of products and services, but remain independent banks with their respective name and banking license. The two institutions are hence solidifying their growth and ambition to be key players in the market.

The NKF team was led by corporate/m&a partner Jacques Bonvin (pictured left), working with partner Andrea Wuerzner (corporate/m&a, pictured right).