Bär & Karrer is acting as Swiss legal counsel to Société Générale in the proposed sale of its Swiss private banking unit Société Générale Private Banking (Suisse) SA to Union Bancaire Privée (UBP).

The transaction occurs in parallel to the proposed sale of SG Kleinwort Hambros in the UK, for a combined value of €900 million.

As of the end of December 2023, the assets under management for the relevant British and Swiss private banking units totaled nearly €25 billion. The proposed sales are a key component of Société Générale's strategic plan to streamline its business model and strengthen its capital base, and is contingent upon regulatory approvals.

The Bär & Karrer team, led by Cédric Chapuis, acts alongside international counsel Norton Rose Fulbright and includes key contributions from Ronny Schmid (M&A), Christoph Suter and Alice Johnson (both Tax).