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UBS and Nordea an agreement on the acquisition of part of Nordea's Luxembourg-based private banking business by UBS. The transaction foresees the acquisition of part of Nordea Bank's business and its integration onto UBS' advisory platform, thereby providing clients access to its global offering and local expertise. The decision follows a thorough strategic review of Nordea’s Private Banking International activities.
The strategic review was part of the transformation of Nordea, with the aim to better manage risk, focus the business and deliver an even better bank for the clients. This led to the decision to concentrate Nordea´s private banking activities on the Nordics. The acquisition will enable UBS to grow its presence in Europe and further build its position as a...
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