Vontobel acquires UBS SFA business with 7.2 billion Sfr in assets

ZURICH (Reuters) – Swiss bank Vontobel said on Thursday it signed an agreement to purchase UBS Swiss Financial Advisers AG (SFA), a Zurich-based subsidiary of UBS AG, to boost its wealth management business for U.S. clients. Vontobel said in a…

Vontobel acquires UBS SFA business with 7.2 billion Sfr in assets

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ZURICH (Reuters) – Swiss bank Vontobel said on Thursday it signed an agreement to purchase UBS Swiss Financial Advisers AG (SFA), a Zurich-based subsidiary of UBS AG, to boost its wealth management business for U.S. clients. Vontobel said in a statement SFA had 7.2 billion Swiss francs ($7.78 billion) in assets under management as of Sept. 30. No additional financial details were disclosed. ($1 = 0.9250 Swiss francs) (Reporting by Silke Koltrowitz; Editing by Michael Shields)

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