Merck Finck & Co, the German private banking firm, is set to take over WestLB's private banking operations in Germany.

A spokesman for WestLB said this is a strategic move for the bank, and that while it has decided to get out of private banking in Germany it will continue its international operations. For Merck Finck, the acquisition is part of a plan to increase its German client base.

Merck Finck buys WestLB's German private banking unit

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