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Merck Finck Privatbankiers unveils M&A plans

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Merck Finck Privatbankiers unveils M&A plans

Germany-based Merck Finck Privatbankiers AG is in "concrete" talks to make acquisitions, with some targets "already beyond the screening stage," CEO Matthias Schellenberg told Bloomberg News.

Schellenberg said any deals must fit the bank's strategy but did not name the targets, according to the Jan. 16 report.

"You should expect to hear more from us in the coming months," he reportedly said.

Schellenberg also said that the company saw "substantial net inflows" in 2018 and signed contracts for 20 new advisers in 2019, the report said.

Merck Finck Privatbankiers is owned by KBL European Private Bankers SA, which is in turn backed by Precision Capital SA, the investment vehicle of the al-Thani ruling family of Qatar.