Banque J Safra Sarasin acquisition of Bank Leumi Luxembourg private banking business

Overview:

• Banque J Safra Sarasin has acquired the private banking business of Bank Leumi Luxembourg.
• Bank Leumi is one of Israel's biggest banks.
• The deal comes in the context of several Israeli banks withdrawing from the European private banking space. A recent development saw Israel Discount Bank sell its Swiss subsidiary to Hyposwiss private bank Genvève.

Sam Duke - Editor