Union Bancaire Privee to acquire British and Swiss private banking units from Societe Generale for €900m.

Union Bancaire Privee, a private bank and wealth management firm headquartered in Geneva, agreed to acquire British and Swiss private banking units from Societe Generale, a French multinational investment bank and financial services company, for €900m ($981.9m). Union Bancaire Privée is buying the two units known as SG Kleinwort Hambros and Societe Generale Private Banking Suisse for about €900 million ($981.9m), SocGen said in a statement on August 5. The deal involves about €25bn ($27.2bn) in assets under management.