Trusted Novus Bank, a bank in Gibraltar, agreed to acquire Kaleido Privatbank, a boutique bank located in Seefeld, Zurich's most vibrant district, from Citadele, a Latvian bank and financial and asset manager. Financial terms were not disclosed. "The sale of Swiss operations is consistent with Citadele’s long-term ambition to become the leading financial services provider in our region. The new owners have a strong commitment and competence to continue supporting the new strategy of Kaleido and to enable them to execute on the growth potential," Johan Åkerblom, Citadele CEO.