VP Bank takes over Öhman's private banking business in Luxembourg
In October 2018, VP Bank based in Liechtenstein entered the Scandinavian market by taking over Carnegie's Luxembourg investment funds as well as the Luxembourg private banking activities of Catella Bank. The bank now makes another move to increase its business scope in the Nordics.
VP Bank, a Liechtenstein-based bank listed on the Swiss stock exchange, strengthens its position in the Nordic market and acquires the client business of the Luxembourg-based private bank Öhman Bank from the Swedish financial group Öhman, the company announces in a press statement.
This transaction in the form of an asset deal includes the takeover of a client advisor team of 11 employees as well as client assets of about EUR 760m.
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