St.Galler Kantonalbank is taking over private banking business from M.M.Warburg Bank (Switzerland) Ltd.

St. Gallen / Zürich, 23. November 2017

St.Galler Kantonalbank Ltd. is taking over private clients and advisers from M.M.Warburg Bank (Switzerland) Ltd. Client support will be provided by the branch of St.Galler Kantonalbank in Zurich.

Continuity for clients and employees.

Five client advisers from Warburg Bank are transferring to St.Galler Kantonalbank and will then support their clients from the SGKB branch in Zurich. This will guarantee clients continuity of support. They will also benefit from the comprehensive private banking services of St.Galler Kantonalbank and the specialists in its in-house investment centre and in financial planning.

M.M.Warburg Bank (Switzerland) Ltd. will be withdrawing from the traditional private banking business in Switzerland. The Warburg Group will still have a presence in Zurich in the form of its subsidiary, Private Client Partners Ltd., an established family office which looks after larger portfolios and selected asset management mandates.

Strategic match

Roland Ledergerber, Chairman of the St.Galler Kantonalbank Management Board: «This takeover fits in perfectly with our strategy of continuing to develop the private banking business in our core markets of Eastern Switzerland, German-speaking Switzerland and Germany in terms of the business model, client segment and target markets.»

Joachim Olearius, spokesperson for the partners of M.M.Warburg & CO: «St.Galler Kantonalbank offers clients first-class support and advice on a suitable scale. With our concentration on providing services for larger family portfolios and selected asset management mandates, we are very successful in Zurich.»

The parties have agreed not to disclose the purchase price. The transaction is expected to be completed in the first quarter of 2018.

Private banking division

The private banking division of St.Galler Kantonalbank has around 200 employees. The home market of Eastern Switzerland is served from five offices in the Canton of St. Gallen, with the remainder of German-speaking Switzerland served from the Zurich office. The German subsidiary also serves the German market from offices in Munich and Frankfurt. Private banking at St.Galler Kantonalbank combines the tradition, loyalty and security of a cantonal bank with first-class, comprehensive private banking services.

Contact for the media

Jolanda Meyer
St.Galler Kantonalbank AG
Media Centre
St. Leonhardstrasse 25
9001 St. Gallen
071 231 32 18

Contact for investors and analysts:

Adrian Kunz
St.Galler Kantonalbank AG
General Secretariat
St. Leonhardstrasse 25
9001 St. Gallen
071 231 32 04

Contact M.M.Warburg & CO:

Martin Wehrle
M.M.Warburg & CO (AG & Co.) KGaA
20095 Hamburg
+49 40 32 82 22 35