Oddo BHF, the Franco-German banking group, and private bank Landolt & Cie want to merge their businesses. The deal is pending regulatory approval.
Oddo BHF and Landolt & Cie are negotiating a merger with a share-swap deal. Under the terms of the agreement, clients of both banks in Switzerland will receive access to the services commonly available, according to a statement released on Monday. The deal needs regulatory approval.
The statement doesn’t specify the deal as a takeover of the Lausanne-based bank Landolt & Cie by Oddo BHF. Instead, Pierre Landolt and Thierry Lombard, the main shareholders of the Swiss bank, will become shareholders of Oddo BHF. The Franco-German group is under the control of Philipp Oddo. Landolt and Lombard would become members of the board of Landolt & Cie.
The Swiss private bank, founded in 1780, has about 3 billion Swiss francs in assets under management and employs 70 people. Three quarters of all clients are based in Switzerland.
Oddo BHF opened its asset and wealth management services to clients in Switzerland in 2016.
