In 2007, Bank Sarasin sold its Swiss brokerage business to NZB Neue Zuercher Bank, and since then has owned a 40% stake in the bank through NZB Holding. Both parties have agreed not to disclose the purchase price.

Bank Sarasin said that the planned acquisition of the majority stake in NZB Holding (likely to be in the region of 51% to 60%) was in response to personnel changes in NZB and the latest decisions by the Swiss regulator FINMA in connection with the investigations in the Sulzer affair. The purpose of the acquisition is to boost the confidence of staff and clients in NZB, added Bank Sarasin.

Bank Sarasin plans to focus the business activity of NZB Neue Zuercher Bank consistently on its brokerage operations. NZB will withdraw from the private banking business.

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