Swiss private bank United European Bank has been fully absorbed into its parent company and two teams are now joined in one organisation: BN...

Swiss private bank United European Bank has been fully absorbed into its parent company and two teams are now joined in one organisation: BNP Paribas (Suisse). For UEB clients, their manager will continue to be their unique contact; UEB have been at pains to reassure them in particular that the confidentiality fundamental to Swiss banks remains absolutely guaranteed. Clients are also being told that the merger will bring “new perspectives” and “a range of advice and products unique in the market”. Interviewed by Le Temps, Louis Bazire, chief executive of BNP Paribas (Suisse), said that there had been a seamless merger. Noting that this regrouping brings the assets under management at end June 2006 to around SFr40 billion ($32 billion), he also stated that he wants to speed up the strategy of seeking a more upscale clientele, targeting Europe first.