Clearwater International advises UBP on the acquisition of Millennium Banque Privée
Clearwater International has co-advised Union Bancaire Privée (UBP), one of the major players in Switzerland’s wealth-management industry, on the acquisition of Millennium Banque Privée, a Swiss private bank owned by the Millennium BCP group.
Founded in 1969, UBP is a global player in the banking industry with over twenty locations worldwide, widely recognised for its financial robustness. In recent years, the bank has engaged in a series of strategic acquisitions to expand activity both in its home market and abroad, as well as stepping up its private banking activities and reinforcing its asset management capabilities.
Millennium Banque Privée started its activities in 2002 in Geneva as a Swiss subsidiary, and 100% owned by the Millennium BCP group. With vast know-how in wealth management, the bank specialises in providing private banking services to individual and institutional clients, with a special focus in Europe, Africa and Latin America.
With this acquisition, UBP manages not only to increase its AUM by over €3.8bn but also to broaden its footprint in countries, including Portugal and Brazil, as well as reinforce the bank’s capabilities in Geneva.