The German-based subsidiary of the Swiss private banking group Sarasin is planning a regional expansion drive, WealthBriefing can confirm.

Sarasin already has three branches in Germany and plans to open a fourth one in the foreseeable future, a spokesperson told this publication. The bank plans to grow both private banking and institutional banking businesses in the country.

In the distant future Sarasin hopes to bring the number of branches in Germany to six, however, this will depend on the amount of quality candidates recruited, the spokesperson said.

In other expansionary moves, in August this year Sarasin opened an office in Bahrain after having received an investment business licence from the country’s Central Bank.