View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
June 7, 2016updated 04 Apr 2017 1:26pm

Societe Generale finalises acquisition of Kleinwort Benson

Societe Generale confirms the closing of the acquisition of Kleinwort Benson in the UK and Kleinwort Benson Channel Islands Holdings Limited from Oddo & Cie.

By John Schaffer

Societe Generale confirms the closing of the acquisition of Kleinwort Benson in the UK and Kleinwort Benson Channel Islands Holdings Limited from Oddo & Cie.

The newly-acquired businesses will be fully integrated with Societe Generale Private Banking Hambros (SGPB Hambros), planned for early 2017. Until full integration, they will operate as independent entities within Societe Generale group.

Eric Barnett, CEO of SGPB Hambros, is appointed CEO of Kleinwort Benson with immediate effect, replacing Martha Boeckenfeld who has decided to leave BHF KB Group after the successful completion of this transaction. One of Eric’s key objectives as CEO of both companies will be to start developing cooperation between the two businesses ahead of the planned integration. Subject to regulatory approval, he will be proposed as CEO of the new combined private bank.

The combined SGPB Hambros and Kleinwort Benson business will represent approximately £14bn ($20.41bn) of assets under management.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Wednesday. The industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Private Banker International