J. Safra Sarasin Group has today announced the signing of an agreement to acquire Credit Suisse (Monaco) S.A.M. and Credit Suisse (Gibraltar) Ltd., both highly regarded private banking entities in their distinctive markets.

A spokesman for the Swiss private bank said these acquisitions are an excellent strategic fit with the J. Safra Sarasin Group, and offer clients and employees a new powerful private banking service which builds on the best of two prestigious companies. The J. Safra Sarasin Group has been operating in Gibraltar since 2001 and in Monaco since 2006.

Credit Suisse (Monaco) S.A.M. has been operating for more than 40 years in Monaco and boasts a long tradition and an excellent reputation. It has a unique client base and will be well positioned to benefit from a growing Private Banking market. The new entity will rank among the largest banks in Monaco.

Present in Gibraltar since 1987, Credit Suisse (Gibraltar) Ltd. has grown to be one of the leading Private Banks in the region. With a diversified and stable client base, it has long been recognized as a best-in-class bank providing wealth-management solutions to both private and institutional clients.

Both acquisitions are expected to be completed during 2016, subject to regulatory approval. 

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