The Swiss private bank BANK SARASIN, which is controlled by the Dutch Rabobank, and AIG PRIVATE BANK have announced the creation of a private bank aimed at mid-market clients in Switzerland, Germany and Austria. Sarasin will own 57.5 % of the venture and AIG the rest. The new venture, which will be operational by the end of 2008, aims to total 235 000 clients and €4.84 billion in independent financial advisors.