Indosuez Wealth Management in talks to buy CIC's private banking business in S'pore, HK
Singapore
INDOSUEZ Wealth Management, the private banking arm of Credit Agricole, France's second-largest bank, is in exclusive talks with Credit Industriel et Commercial (CIC) to buy its private banking business in Singapore and Hong Kong.
The acquisition would boost Indosuez Wealth Management's private banking position in Asia and is in line with its strategy to accelerate growth in key markets, as part of its "Shaping Indosuez 2020" corporate project, which in turn is a component of Credit Agricole Group's medium-term plan, it said on Friday.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Meituan to debut in Riyadh as expansion beyond China quickens
Mapletree Industrial Trust to distribute S$13 million of divestment gains over next 4 quarters
K-pop agency Hybe’s internal strife wipes out 1.2 trillion won
Beijing city to subsidise domestic AI chips, targets self-reliance by 2027
Hong Kong bourse regains favour on hopes of a market revival
Chinese sellers go to TikTok school to reach buyers abroad