UBP to acquire ACPI in move to increase UK presence - reports

Fearful of rival to Geneva

Swiss private bank UBP is understood to be buying UK investment business ACPI for an undisclosed sum, as Swiss firms increase their presence in the UK.

According to FTfm, UBP is close to finalising the deal for ACPI, an investment management firm that oversees $4bn in assets and has 70 staff. ACPI is run by Brett Lankester, a former managing director in the UK private wealth management division of Goldman Sachs, who has been chief executive since 2009. UBP declined to comment to FTfm while ACPI said the deal had not been finalised.  The move by a Swiss firm to acquire a London-based one reflects their nervousness about the City of London rivalling Geneva post Brexit in the competition for offshore cash from European and Middle Eas...