Swiss private bankers Mirabaud have announced that on 1 January 2008, Banque Jenni will become their Basel branch. Since Banque Jenni was...

Swiss private bankers Mirabaud have announced that on 1 January 2008, Banque Jenni will become their Basel branch. Since Banque Jenni was bought from the Sarasin Group in July 2004, its shareholders, Mirabaud and the four members of Jenni’s executive board, have been considering the best way for the two entities to work together, according to a company statement. They have now decided on full and complete integration within Mirabaud. This is in line with the “new framework and new directions, a name and a brand image that would stand out in an increasingly competitive environment” outlined earlier this year by Thierry Fauchier-Magnan, managing partner and chairman of Mirabaud’s executive committee. The goal is to continue serving an international clientele but with the accent on developing local business. Mirabaud Basel plans to hire new managers, while the business of existing clients will remain with current ones. The other shareholders and members of Banque Jenni’s executive board, Werner Schumacher, Charles-Louis de Laguiche, Jean-Blaise de Roten and Reinold Senti, will join Mirabaud as directors on 1 January 2008. Mirabaud private bank was founded in Geneva in 1819. It has assets under management of about SFr20 billion ($16 billion).