Union Bancaire Privée, UBP SA, and The Royal Bank of Scotland Group plc entered into a definitive agreement regarding the sale and purchase of the international private banking activities of Coutts in Switzerland, Monaco, Singapore, Hong Kong, DIFC, Dubai and Abu Dhabi with around CHF 30 billion of client assets with approximately 1,300 employees. Closing of the transaction is subject to receipt of regulatory approvals and other conditions usual for this type of transaction.

Lenz & Staehelin is advising UBP in this transaction by a team consisting of Shelby du Pasquier (Partner, Banking) Andreas Rötheli (Partner, Corporate and M&A), David Ledermann (Partner, Corporate & M&A) and Benoit Merkt (Partner, Merger Control)