Sale of Complementa to Zürcher Kantonalbank: CMS and NKF

CMS advised Complementa on its sale to Zürcher Kantonalbank, advised by Niederer Kraft Frey (“NKF”). Complementa has been supporting Zürcher Kantonalbank (“ZKB”) with investment reporting services since 2006 and has become an important partner of the bank. ZKB has taken over Complementa as of July 26, 2024.

About the selling

The bank is thus consolidating its important position in the area of custody services. At the same time, the takeover provides Complementa with a viable, long-term succession solution. This step ensures the smooth continuation of the often long-standing client relationships. For Complementa’s clients and employees, this solution represents continuity and stability.

CMS’ team

A team of CMS led by partner Dr Daniel Jenny (pictured left) and senior associate Florian Jung (pictured right) provided comprehensive legal advice to the seller on the transaction. The team also included David Hürlimann (partner, tax), Christian Gersbach (partner, employment), Rafael Gruber (trainee, corporate/M&A) and Nadine Anwander (trainee, corporate/M&A).

NKF’s team

The NKF team was led by corporate/M&A partner Thomas Brönnimann (pictured below), working with partner András Gurovits (IT) and associates Manuel Hirlinger (corporate/M&A), Stefan Härtner (banking & finance) and Lukas Mathis (litigation).

CEO

Heinz B. Rothacher will relinquish his role as CEO, but will continue to be represented on the Board of Directors. From September 2024, Markus Wirth, currently Head of Custody at ZKB, will become CEO of Complementa. He will continue to manage the company together with the existing management team.