Banque Privée Espírito Santo (BPES) has announced the sale of a significant part of its private banking business to CBH Compagnie Bancaire Helvétique SA, a Swiss independent private bank. The agreement covers the bank's clients in the Iberian and Latin American regions.
The similarities in terms of culture and approach between the two banks will ensure continuity of the high-quality service and proximity to which BPES clients are accustomed. CBH and BPES will now work closely together to complete the transfer of the clients involved under the best possible conditions.
"I firmly believe that in CBH Compagnie Bancaire Helvétique we have found an excellent solution that will enable us to continue to work in the interests of our clients and our staff in the best way posible," stated José Manuel Espírito Santo, Chairman of the Board of Directors of BPES.
Banque Privée Espírito Santo will continue to support its clients that are not transferred, maintaining a high-quality service and then gradually reducing its activities while at the same time developing its partnership with CBH Compagnie Bancaire Helvétique.
"We are very pleased to have concluded this agreement and we believe that it represents a significant step forward in the development of our bank, enabling the expansion of our business into the Latin American and Iberian markets. We are delighted to welcome the new team, with which we share a common strategic vision that is focused on a close relationship with our clients," said Philippe Cordonier, CEO of CBH Compagnie Bancaire Helvétique.