Substantial changes may be taking place in the Swiss private banking arena, as a media report suggests that Rabobank intends to sell its stake of Basel-headquartered Bank Sarasin, a claim Rabobank denied when contaced by this publication.

Cash.ch, a Swiss business news website, says that the Sarasin’s rival Julius Baer is interested in Rabobank's stake, which is said to be worth SFr1.2 billion ($1.01 billion).

“Rabobank has tasked a team to initiate the sale of its stake in Sarasin,” a banker who is familiar with the situation told the publication.

An official spokesperson at the Dutch firm told WealthBriefing that such a sale was “not on the agenda”.

Majority shareholder Rabobank has been involved with Sarasin for the last eight years.

Sarasin said that it does not comment on such speculation, when contacted by this publication, and Julius Baer also said that is does not comment on market rumours.

Rabobank has a capital share 46.1 per cent and a 68.6 per cent proportion of voting rights.