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VP Bank further strengthens its position in the Nordic market and acquires the client business of the Luxembourg-based Private Bank Öhman Bank S.A from the Swedish financial group Öhman.
VP Bank (Luxembourg) SA has signed an agreement to take over the private banking activities of Öhman Bank S.A. in Luxembourg. 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 760 million. It was agreed not to disclose the purchase price. The transaction should be completed by 1 January 2021 at the latest.
The existing (private banking) clients of Öhman Bank S.A., the majority of whom are Scandinavian entrepreneurs and investors, will continue to be served by their...
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