Bringing you live news and features since 2006 

Indosuez Wealth Management completes acquisition of Crédit Industriel et Commercial’s private banking operations in Singapore and Hong Kong


Indosuez Wealth Management has successfully completed the acquisition of Crédit Industriel et Commercial’s (CIC) private banking operations in Singapore and the entire paid-up share capital of CIC Investors Services in Hong Kong, having received approvals from the Singapore High Court and the Securities and Futures Commission of Hong Kong. 

The completion of the acquisition took effect at 11.59 pm (Singapore time) on Saturday, 2 December 2017.

The acquisition, which was announced on 13 July 2017, strengthens the bank’s presence in Asia and brings its total assets under management (AUM) across the region to approximately EUR 12 billion. Its current employee base in Asia also increases from 250 to more than 400 staff.

In addition to current product and services, the combined business will allow CIC clients to benefit from both Indosuez’s Hong Kong and global multi-booking centres as well as Discretionary Portfolio Management, Advisory Mandates, Private Equity, Wealth Structuring and Corporate Solutions capabilities. 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, says: “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 in Asia, says: “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.”

Latest News

Saving and investing app, Moneybox, has doubled the number of ETFs available on the platform, in the light of ‘growing..
Global X ETFs has announced the appointment of Ryan O'Connor as its Chief Executive Officer effective as of April 8, 2024. ..
Value-driven structured credit investing firm, Angel Oak Capital Advisors, LLC, has announced the completed conversions of two of its mutual..
Confidence in the continuing strength of bitcoin and Ethereum is driving wider interest in altcoins and other digital assets, according..

Related Articles

Jeremy Senderowicz, Vedder Price
Jeremy Senderowicz, a member of the Investment Services Group at law firm Vedder Price, has witnessed a steady upswing in...
Graham MacKenzie, Toronto Stock Exchange
The evolution of ETFs has been a multi-decade experience for Toronto Stock Exchange says Graham MacKenzie, managing director, Exchange Traded...
Frank Koudelka, State Street Global Services
ETF data provider and ETF Express data partner, Trackinsight, has published its Global ETF Survey 2024 Report: ‘50+ Charts on...
Matteo Greco, Research Analyst at Fineqia International writes that bitcoin (BTC) ended the week at approximately USD52,150, showing a notable...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by