Clifford Chance

Clifford Chance advises ABN AMRO on private banking operations sale

Leading international law firm Clifford Chance has advised Amsterdam-headquartered private, retail and corporate banking provider ABN AMRO on the sale of its private banking operations in Asia and the Middle East to international private banking and asset management group LGT. The transaction involved the divestment of ABN AMRO's Asia and Middle East operations which manage around US $20 billion of client assets as the group seeks to strengthen and grow it's Northwest Europe private banking operations.

Singapore partner Lee Taylor led the Clifford Chance team, supported by associate Satbir Walia and lawyer Samantha Eng and a further 44 lawyers from the firm's Amsterdam, Dubai, Hong Kong, London and Singapore offices.

Lee offers, "The team is delighted to have guided market leader ABN AMRO on this sale which will help them realise their strategic objectives outside of the region. This transaction follows on from several other similar transactions we have been involved in over the past few years as the private banking sector continues to consolidate in Asia."