for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up

Vontobel acquires UBS SFA business with 7.2 bln Sfr in assets

ZURICH, Dec 16 (Reuters) - Swiss bank Vontobel said on Thursday it signed an agreement to purchase UBS Swiss Financial Advisers AG (SFA), a Zurich-based subsidiary of UBS AG, to boost its wealth management business for U.S. clients.

Vontobel said in a statement SFA had 7.2 billion Swiss francs ($7.78 billion) in assets under management as of Sept. 30. No additional financial details were disclosed. ($1 = 0.9250 Swiss francs) (Reporting by Silke Koltrowitz; Editing by Michael Shields)

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up