Strategy
Swiss Banks Expand Co-operation Pact
Two Swiss banks are extending their co-operation beyond the terms of an original agreement that was due to expire in June 2017.
Swiss banks Raiffeisen and Vontobel will continue to
collaborate in certain areas beyond the original pact they
entered, due to expire in June next year, the banks
said.
As a result of the continued agreement, Vontobel will remain a
partner of Raiffeisen and its subsidiaries in certain areas of
asset management and the securities business.
The new arrangements also cover areas of investment products and
securities settlement, and will run through to the end of 2020 at
least, the banks said in a statement.
“Continuing to work together in certain specific areas is in our
clients' interests, and creates a platform for new,
business-oriented products, models and processes for both
companies,” said Patrik Gisel, chief executive of Raiffeisen
Switzerland.
