Launch of Banque Privée 1818
The merger of Banque Privée Saint Dominique and La Compagnie 1818 - Banquiers Privés - was approved on June 30, 2009 at their respective general shareholders’ meeting. The new entity is called Banque Privée 1818.
Backed by the newly created BPCE group, and a wholly-owned subsidiary of Natixis, Banque Privée 1818 is one the leading private banking players in France. It manages over €12 billion and boasts a staff of more than 400.
Banque Privée 1818 focuses on three activities:
- Wealth management: customized financial solutions and techniques to direct clients comprising mostly business people;
- Distribution of a range of wealth management products for top clients of the Caisse d’Epargne and Banque Populaire networks underpinned by the wealth management skills of the private bank;
- Sale of products and services to independent financial advisors approved by the Centre Français du Patrimoine, the second largest multi product platform whose ambition is to become a key partner for the 300 more active independent financial advisors.
At the same time, the two asset management subsidiaries of both banks will merge to create 1818 Gestion.
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About Groupe BPCE
Groupe BPCE is the second-largest banking group in France. Through its 100,000 staff, the group serves 35 million customers – individuals, professionals, companies, investors and local government bodies – around the world. It operates in the retail banking and insurance fields in France via its two major networks, Banque Populaire and Caisse d’Epargne, along with Banque Palatine and Oney. It also pursues its activities worldwide with the asset & wealth management services provided by Natixis Investment Managers and the wholesale banking expertise of Natixis Corporate & Investment Banking. The Group's financial strength is recognized by four credit rating agencies with the following senior preferred LT ratings: Moody's (A1, stable outlook), Standard & Poor's (A, stable outlook), Fitch (AA-, negative outlook) and R&I (A+, stable outlook).
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