Notenstein Private Bank, a subsidiary of Raiffeisen Switzerland, is planning to acquire Basel-based private bank La Roche, reported Swiss online news portal finews.ch.

Notenstein Private Bank, which manages around CHF21bn in assets under management, offers wealth management services for private and institutional clients.

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La Roche manages around CHF10bn and serves both traditional private client and institutional client business.

Sources said that Swiss banking sector is likely to reduce in size by around a third in the coming years amid increasing regulatory costs.

 

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