Indosuez Wealth Management, the wealth management arm of Credit Agricole has acquired 94.1% of Italian wealth manager Banca Leonardo.

The acquisition has obtained regulatory approval.

The acquisition was first  announced in November 2017 and raises French-based Indosuez Wealth Management’s Italian presence.

The combined business brings 230 employees together in Italy serving clients across six officies.

AuM from the Italian business is expected to be €7bn following the acquisition.

Olivier Chatain, Indosuez Wealth Management’s Europe CEO, said: “The completion of this transaction is an important step for our development in Italy, one of the Group’s core markets. Our teams really look forward to working alongside our new colleagues from Banca Leonardo, a strong and recognised wealth manager in Italy.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

“Our joint ambition is to deliver a comprehensive, bespoke, wealth management offering to Italian families and entrepreneurs.”