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Reyl & Cie acquires Luxembourg private bank in EU push

Reyl & Cie acquires Luxembourg private bank in EU push

Through a new partnership with Swedish financial group Öhman, Reyl & Cie is set to acquire all the outstanding capital of Öhman Bank Luxembourg. 

Through this transaction, which will be completed in the first quarter of 2019, Reyl will increase its assets under management by approximately CHF 904 million. 

Öhman, which has operated in Luxembourg since 2009, plans to to operate its wealth management, asset management and advisory services under the name Reyl & Cie (Luxembourg). 

Reyl CEO, François Reyl said: ‘We are very pleased to be able to add to our presence in Luxembourg, allowing us to develop our European hub and to diversify our client base in a region well known for its pool of successful entrepreneurs and sophisticated investors. 

'This acquisition complements Reyl both geographically and culturally, bringing us new and extensive knowledge of Nordic markets, which we believe can become an interesting component of our future growth strategy.’

Reyl Group also recently appointed a new head of asset management, noting that it plans on expanding its alternative product offering.

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