Sarasin buys Bank of Montreal's HK, Singapore private banking arms

FILE PHOTO: A logo is seen at a branch office of private Bank J. Safra Sarasin in Basel, Switzerland March 18, 2021. Picture taken March 18, 2021. REUTERS/Arnd Wiegmann

ZURICH (Reuters) – J. Safra Sarasin Group has acquired Bank of Montreal’s private banking business in Hong Kong and Singapore, the Swiss group said on Monday, giving no financial terms for the deal announced in January.

“This acquisition confirms the group’s expansion in the Asian private banking market and reinforces its leading role in these two important financial centres where it has a long and successful track record and to which the Group is highly committed,” it said.

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