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13 November 2014

Belgium's Puilaetco Dewaay agrees to buy UBS Belgium 

Reuters covers the acquisition of UBS Belgium by Puilaetco Dewaay

Belgian private bank Puilaetco Dewaay said on Thursday it had agreed to buy the UBS Belgium, the Belgian operations of Swiss bank UBS, for an undisclosed sum.

UBS Belgium manages more than 3 billion euros ($3.74 billion) in assets and employs 60 staff, including 20 private bankers, Puilaetco Dewaay said.

The Belgian group said it expects the deal, which would swell its asset under management to 10 billion euros, to close in the first half of 2015.

- Reuters