Abu Dhabi-owned Falcon to buy C.Suisse arm Clariden Leu (Europe)
DUBAI, Oct 4 (Reuters) - Falcon Private Bank, a Swiss-based wealth manager owned by Abu Dhabi fund Aabar Investments, has agreed to acquire Clariden Leu (Europe), a fully-owned subsidiary of Credit Suisse , a statement from Falcon said on Thursday.
No financial details of the transaction was provided. The acquisition is expected to close in the first-quarter of 2013, the Falcon statement said.
London-based Clariden Leu (Europe) had assets under management of over 2 billion Swiss Francs ($2.13 billion) as of August 31, 2012.
UBS acted as financial adviser to Falcon Private Bank.
($1 = 0.9378 Swiss francs)
(Reporting by Stanley Carvalho, Writing by Dinesh Nair; Editing by David French)
Keywords: FALCON CLARIDEN/CREDITSUISSE