German Bank of Qatar's Al-Thani Family Working on Takeovers - Bloomberg:
The German bank of Qatar’s Al-Thani family plans to double its assets under management over the next five years. Its strategy: acquisitions and hirings.
Merck Finck Privatbankiers AG is conducting "concrete" talks on acquisitions, Chief Executive Officer Matthias Schellenberg said in an interview. "With some takeover targets, we are already beyond the screening stage. You should expect to hear more from us in the coming months," said Schellenberg, who has led the lender for two years and previously served on the board of UBS Group AG’s German business.
Schellenberg declined to name any targets. Acquisitions would have to fit in with the strategy of the bank, which primarily serves private customers with assets starting at 1 million euros ($1.2 million), he said.
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