Investcorp buys stake in Swiss private bank

Banque Pâris Bertrand Sturdza dealBahrain-listed alternative investment manager Investcorp has bought a 40% stake in Swiss private bank Banque Pâris Bertrand Sturdza (PBS). Although financial details of the deal have not been disclosed, the bank has $5.4 billion in assets. The deal is Investcorp’s first foray into the private banking market and follows its 2016 acquisition of UK private equity group 3i for $287 million. According to Investcorp’s co-chief executive Hazem Ben-Gacem, private banking is going to be one of the “core offerings” for the company in the immediate future. “The time is right to offer those services to a broader investor base,” he said. The bank will be renamed Banque Pâris Bertrand to reflect the change in ownership but will retain its operational independence, said Investcorp. ©2018 funds global mena

Executive Interviews

INTERVIEW: ‘Financing is the blood of Iran’s economy’

Amid a fresh wave of American sanctions, Romil Patel spoke to Meysam Hamedi, director of financial markets and instruments at Iran’s Securities & Exchange Organization (SEO).

INTERVIEW: Totally mega

In 2016, global consulting firm PWC forecast the emergence of five global ‘megatrends’ in the next two decades. Stephen Anderson, its Middle East clients and markets leader, talks about their...


South Africa asset management roundtable: Global rebound on ice

Experts discuss the investment implications of the coronavirus pandemic, a delayed rebound in global growth and dealing with South Africa’s energy issues head on. Chaired by Romil Patel in Cape Town.

South African roundtable: Taking the bull by the horns

Our panel discusses Chinese investment in Africa, financial institutions’ contribution to economic sustainability and regulatory concerns. Chaired by Romil Patel in Cape Town.