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Vontobel acquires UBS SFA business with 7.2 billion Sfr in assets -Breaking

by Mike Robinson

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© Reuters.

ZURICH, (Reuters) – Swiss bank Vontobel has announced that on Thursday it purchased UBS Swiss Financial Advisers AG. (SFA) Zurich-based UBS AG subsidiary to increase its wealth management service for U.S clients.

Vontobel reported that SFA owned assets worth 7.2 billion Swiss Swiss Francs (or $7.78 trillion) as of September 30. Additional financial information was not disclosed.

($1 = 0.9250 Swiss francs)

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