Norton Rose Fulbright advises Société Générale on proposed €900m sale of British and Swiss private banking units to UBP

Global law firm Norton Rose Fulbright is advising Société Générale on the proposed sale of two of its divisions - SG Kleinwort Hambros and Société Générale Private Banking Suisse divisions - to Union Bancaire Privée (UBP) for €900m.

The assets under management of the British and Swiss private banking units covered by these agreements amount to almost €25 billion at the end of December 2023.

These proposed sales support the execution of Société Générale’s strategic roadmap and are subject to the regulatory approvals.

The cross-border and multi-disciplinary Norton Rose Fulbright team is led by corporate partner Jean-Claude Rivalland supported by counsel Louis Fridman and associate Laura Darvishi (all Paris) and corporate partner Richard Sheen, supported by counsel Matthew O’Shea and senior associate Thomas Widdows (all London). The wider team comprised of partners and lawyers from across the firm’s tax, financial services regulatory, employment and pensions, IP, IT and antitrust and competition teams in London, Paris, Singapore and Luxembourg. Bär & Karrer law firm advised in relation to Swiss law.

Norton Rose Fulbright’s global corporate, M&A and securities practice advise corporations and financial institutions across the full spectrum of complex transactions in both developed and emerging markets.