One Swiss Bank, a private bank, agreed to merge with Banque Profil de Gestion, a private bank. Financial terms were not disclosed. The transaction is expected to be closed by the end of the first quarter of 2021. "The transaction is in line with the actions taken in recent years and offer promising perspectives for ONE. Thanks to the expertise of the company, we will be able to offer a wider range of products and services and meet our clients’ present and future expectations," Grégoire Pennone, One Swiss Bank CEO.