Banque Profil de Gestion (BPDG) wants to acquire Dynagest and on Monday has signed a letter of intent to buy all shares in the company, the company said in a statement on Monday.

BPDG will use its own shares to pay for Dynagest. The final price to be paid will be set in coming weeks. The asset manager has ten investment funds and acts as a fixed income broker. Raiffeisen Switzerland and DG Investment Holding own a minority stake in Dynagest.

The acquisition will increase assets under management at BPDG to about three billion Swiss francs. The bank will assume 20 members of staff of Dynagest.