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Brickell Bank sale to Swiss family terminated; Banesco USA steps in as buyer

Coral Gables, Fla.-based Banesco USA agreed to acquire Miami-based Brickell Bank from its principal shareholder, Banco Espírito Santo SA, which is in liquidation.

The combined company will be under Banesco USA's branding.

In March 2018, the Swiss family behind private bank CBH Compagnie Bancaire Helvétique SA was set to acquire Brickell Bank for $11.0 million. Joseph Benhamou and his family are major shareholders of CBH, which has operations in London, Hong Kong, the Bahamas and Tel Aviv.

That deal appears to have fallen through, with Banesco stepping in as a new buyer.