Privatbank sells its client book to Bank Vontobel: the advisors

Baker McKenzie advises Privatbank IHAG Zürich on the sale of its client book to Bank Vontobel, advised by Bär & Karrer, by way of an asset deal.

Vontobel is set to acquire PB IHAG’s business, supporting its strategic ambition to expand its presence in its focus markets. The transaction will be financed out of Vontobel’s existing capital. Subject to customary closing conditions, the transaction is expected to close first half of 2025 at the latest.

Baker McKenzie’s team

Baker McKenzie Switzerland advised PB IHAG on all legal aspects of this transaction with a team led by partners Martin Furrer (pictured left) and Yves Mauchle (pictured center) and included transaction lawyers Jan Lusti, Kiara Sharifi and Vinzenz Sutter, US partner Caleb Sainsbury, tax counsel Mario Kumschick and trainee lawyer Laksanaporn Chaiyakham.

Bär & Karrer’s team

Bär & Karrer acts as legal advisor to Vontobel in this transaction. The team is led by M&A partner Martin Anderson (pictured right) and includes Milena Ferro-Luzzi (M&A), Eric Stupp (Banking, Regulatory), Christoph Suter (Tax) and Laura Widmer (Employment)

PB IHAG

PB IHAG is an independent Swiss private bank established 75 years ago. After the closing of the asset deal with Vontobel, PB IHAG intends to return its banking license and wind down its remaining positions.