Indosuez Wealth Management Completes Acquisition of CIC Private Bank in Singapore and Hong Kong
Indosuez Wealth Management has completed the acquisition of CIC Private Bank in Singapore and Hong Kong on the 2nd December 2017.
” Indosuez Completes CIC Private Bank Acquisition, Increases AUM to EUR 12 Billion in Asia “
With the acquisition, the total AUM in the region increases to EUR 12 billion while the total no. of employees in Asia increases from 250 to more than 400. With the acquisition of CIC, Indosuez will also add a 24-hour execution platform to its offering.
Paul de Leusse, Chief Executive Officer of Indosuez Wealth Management:
“The successful completion of the CIC transaction confirms the significant progress we are making on Shaping Indosuez 2020, the bank’s corporate project. We are very pleased to welcome our new colleagues to the Indosuez family as we continue to expand in the high-growth Asian market.”
Pierre Masclet, Chief Executive Officer of Indosuez Wealth Management Asia:
“The acquisition of CIC’s operations in Hong Kong and Singapore marks an important milestone for the bank, paving the way for growth momentum and opportunities in Asia. Thanks to our shared culture and mutual commitment to client service and product excellence, CIC is a natural fit for Indosuez Wealth Management. The enlarged Indosuez Wealth Management operation in Asia will ensure that our clients continue to receive the personalised service they expect together with the most competitive products, tailored solutions and pricing models.”
Source: Official Press Release
About Indosuez Wealth Management
Indosuez Wealth Management comprises all Credit Agricole group entities specialising in Wealth Management. Its original parent companies including Banque de l’indochina (1875) and Crédit Lyonnais (1876). The bank cultivates a number of international specialties in five areas of activity: client relations – financial expertise – support – risk, compliance, and internal control – banking transactions. Today, it has presence in 15 countries around the globe.
- Origin : Geneva, Switzerland
- Assets : CHF 19.21 billion
- Revenue : CHF 516.4 million
- Employees : 140,000
Official Website: www.ca-indosuez.com
News & Media: Press Release
Updated on 8th August 2016
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