Launch of Sélection 1818 the new platform dedicated to independent financial advisors
Banque Privée 1818 and Rothschild & Cie Banque signed today the final agreement for the creation of their common platform dedicated to independent financial advisors, born out of the merger of Sélection R and 1818 Partenaires.
The new combine will be called Sélection 1818. Held 66% by Banque Privée 1818 and 34% by Rothschild & Cie Banque, it will be headed by Cyril Chapelle, appointed Chief Executive Officer today, with the support of a mixed management team, comprising staff from both entities.
The draft agreement of the project, which has received the required authorizations from the European Commission and from France’s prudential control authority, was signed between both partners last November.
With combined assets under management of €6 billion at March 31, 2011, Sélection 1818 is a distribution platform that provides an extended range of placement products (bank, insurance, international, real estate) and several services for independent financial advisors. Designed with an open architecture, the platform combines the best solutions the market provides.
Cyril Chapelle said: “With this major project, based on the complementarity of two platforms and our wish for development, our ambition is the emergence of a leading multi-product and multi-service platform dedicated to independent financial advisors in France”.
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www.selection1818.com |
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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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