AnaCap Financial Partners (AnaCap), a European financial services private equity firm, is rebranding its Barclays France business as Milleis Banque (Milleis) with immediate effect.
This follows the successful completion of the acquisition of Barclays’ French retail, wealth and investment management operations (including subsequent regulatory approval) in September 2017.
The rebranding exercise is designed to reflect both the expansion and simplification of its product range, further bringing Milleis in line with the needs and expectations of its broadening customer base. The product development initiative was started in September 2017 and includes to date the introduction of new life insurance policies (with Cardif Luxembourg), UCITSs (with JP Morgan, Carmignac & Lazard) and wider banking tools (with Amundi & BNP Paribas).
This strategy will soon be further strengthened through a working partnership with Rothschild Asset Management, allowing customers to invest in both their managed and profiled funds. An additional product offering will shortly be introduced through the supply of credit based facilities targeting competitive rate mortgages via partnerships secured with Crédit Logement and Capfi, the French mortgage brokering leader.
At a time when digitisation is at the forefront of customer expectations, Milleis will additionally offer best-in-class technology to promote a more fluid customer relationship whilst also respecting the critical need for the protection of customer information and data security in tandem with its standard face-to-face client servicing.
Milleis typically targets customers who own assets ranging from EUR50,000 to EUR500,000 – with a capability to service clients up to EUR1,000,000.
The strategic objective of Milleis is to double its customer base to 200,000 by 2024.
Philippe Vayssettes, CEO at Milleis, says: “This is much more than just a new brand and name change for Milleis. This is our chance to invent a new style of disruptive banking through a differentiated product and service offering – something that has great appeal for both us and our customer base. Today is the start of a new, exciting chapter that we begin together at what is a very exciting time for the French banking landscape.”
