EFG acquires Swiss private bank Cité Gestion

Niederer Kraft Frey is acting as counsel to EFG International in the acquisition of 100 percent of the Swiss private bank Cité Gestion announced on 19 February 2025. The closing of the transaction is expected in the second half of 2025 and is subject to regulatory approval.

Cité Gestion manages approximately CHF 7.5 billion of Assets under Management as of the end of 2024 and generated a net profit of around CHF 6 million in 2024. Cité Gestion has around 130 employees, is headquartered in Geneva, with further offices in Lausanne, Lugano and Zurich. Its multi custody business focuses on serving UHNWIs domiciled in Switzerland, Western Europe, Latin America and the Middle East.

The NKF team was co-led by Corporate/M&A partners Philippe Weber and Thomas Brönnimann, working with partner Philipp Candreia (Corporate/Regulatory), senior associate Florian Steiner (Regulatory), associates Manuel Hirlinger (Corporate/M&A), Stefan Härtner (Regulatory) and Stephanie Huchler (Employment), as well as junior associates Philipp Theiler and Matthias Zinniker (all Corporate/M&A).