UBS Europe SE completes acquisition of Nordea’s Luxembourg-based private banking business
UBS and Nordea announced today that UBS has successfully acquired part of Nordea's Luxembourg-based private banking business.As announced in January 2018, the transaction covers the acquisition of part of Nordea Bank’s business and its integration onto UBS' platform, thereby providing clients access to its global offering and local expertise. The decision followed a thorough strategic review of Nordea’s Private Banking International activities. The strategic review was part of the transformation of Nordea with the aim to better manage risk, focus on the core business and deliver an