Indosuez Wealth Management is continuing the trend towards consolidation in Asia's wealth management industry, entering talks to buy the Asian private bank of Credit Industriel et Commercial CIC.
Indosuez said on Friday that it had started exclusive discussions with rival French bank CIC to acquire the latter’s wealth businesses in Singapore and Hong Kong. The transaction is expected to be finalised by the end of the year, added Indosuez in a statement.
The proposed deal continues a trend towards consolidation in Asia's wealth management industry. But industry observers told FinanceAsia's sister title AsianInvestor that the merged group would still remain short of...
¬ Haymarket Media Limited. All rights reserved.
