In an emailed statement, UBP spokesman Jerome Koechlin was quoted by Reuters as saying, "There will be synergies but it is premature to provide any figure at this stage."
In May, the lender agreed to acquire the international private banking business of UK-based Lloyds Banking Group, for a total cash consideration of nearly £100m.
Sources familiar with the matter were reported by the news agency that the proposed deal included the British bank’s Geneva-based private bank, its branches based in Geneva, Zurich, Monaco and Gibraltar, and a representative office in Montevideo.
Following acquisition, the acquirer received £7.2bn in assets and 500 employees working at branches located in Geneva, Zurich, Monaco and Gibraltar.
The bank has also purchased ABN AMRO’s Swiss private banking business, French asset manager Nexar and a portfolio of Swiss asset management operation from Spanish bank Santander.
