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Bolton Rease

Rumored Sale of Banque Pasche to Banque Havilland

Monday 10 August 2015

Though nothing has been announced, rumors have been swirling for quite some time about Banque Havilland possibly purchasing the last two branches of Banque Pasche in Geneva and Zurich. A prestigious banking institution with more than 120 years of history, Banque Pasche has gotten smaller and smaller in recent years as Banque Havilland has slowly bought controlling stakes in many of its subsidiaries.

The process first began 2013 when Havilland bought the Monaco subsidiary. Following this was the purchase of the Banque Pasche subsidiary in Liechtenstein during October of last year. In that transaction, Havilland bought a majority stake in the branch. Havilland followed that move with a purchase of 100% of the shares of Banque Pasche’s branch in Nassau, Bahamas.

Through it all, many have been impressed with how quickly Havilland has absorbed these different branches. Because Pasche is known as a tremendously well positioned and capitalized bank, numerous outside observers have supported the purchases. In one fell swoop Havilland is able to rapidly expand its global reach and add one of the most respected banking institutions in the world into its financial network.

One of the most stunning details of this recent transition is the fact that Banque Havilland as an institution is 20 times younger than Pasche. First established in 2009, Havilland is family-owned and based in Luxembourg. The bank is owned by David Rowland, a wealthy real estate magnate from the UK, and it was initially founded in response to the financial crisis.

In addition to protecting the individual wealth of the Rowland family, the bank began courting the business of other ultra-high net worth individuals. In only a few years, it has become very successful as a banking institution for private wealth management. Its focus on globetrotting UHNW individuals has helped it quickly establish a slew of contacts in banking and finance.

Banque Pasche, established in 1885, has a great deal more history and prestige than Banque Havilland, at least at this point in time. With its great reputation, significant assets, and similar focus on private banking, the synergies between the two institutions are obvious.

After the recent sales, Pasche only has two remaining offices left, one in Geneva and one in Zurich. Many are predicting that Havilland will eventually purchase these as well, but with all of the attention Banque Pasche is now getting, it is possible another international bank will come in and purchase the subsidiaries.

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