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Crédit Agricole: finalises business acquisitions in Asia.

(CercleFinance.com) - Indosuez Wealth Management has said that it has successfully completed the acquisition of the private banking businesses of CIC in Singapore, along with all the paid-up share capital of CIC Investors Service in Hong Kong, after agreements were reached with local authorities.

Announced on 13 July, this acquisition strengthens Indosuez Wealth Management's presence in Asia and brings the total of its assets under management in the area to around 12 billion euros. The bank's total employees in Asia will increase from 250 to over 400.

The success of this operation confirms the bank's significant progress in the implementation of its business plan, Shaping Indosuez 2020, said Paul de Leusse, CEO of Indosuez Wealth Management.

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