Baker McKenzie Advises Privatbank IHAG on sale of its business to Vontobel

Baker McKenzie advises Privatbank IHAG Zürich AG (PB IHAG) on the sale of its client book to Bank Vontobel AG by way of an asset deal.

Vontobel is set to acquire PB IHAG's business, supporting its strategic ambition to expand its presence in its focus markets. The transaction will be financed out of Vontobel's existing capital. Subject to customary closing conditions, the transaction is expected to close first half of 2025.

PB IHAG is an independent Swiss private bank established 75 years ago. After the closing of the asset deal with Vontobel, PB IHAG intends to return its banking license and wind down its remaining positions.

Baker McKenzie Switzerland advised PB IHAG on all legal aspects of this transaction.

The Baker McKenzie team was led by partners Martin Furrer and Yves Mauchle and included transaction lawyers Jan Lusti, Kiara Sharifi and Vinzenz Sutter, US partner Caleb Sainsbury, tax counsel Mario Kumschick and trainee lawyer Laksanaporn Chaiyakham.