Indosuez Wealth Management announces that its entity in Monaco, CFM Indosuez, has signed an agreement to acquire the Wealth Management clients of the BNP Paribas Group subsidiary in Monaco.
The acquisition, subject to regulatory approval, is set to bolster Indosuez Wealth Management's position on the Monegasque market in which it has been present since 1922.
This transaction is complemented by a strategic business partnership with the BNP Paribas Group to provide long-term support to its clients with Wealth Management needs in Monaco, the company said in a statement announcing the deal.
Jacques Prost, Chief Executive Officer of Indosuez Wealth Management, said: “This acquisition would strengthen our position in Monaco with ultra-high net worth clients (UHNW). Indosuez is pursuing its growth strategy in a sector undergoing consolidation and is a major player in wealth management in Europe.”
Mathieu Ferragut, CEO of CFM Indosuez Wealth Management and Deputy CEO of Indosuez Wealth Management, adds: “We are delighted to welcome the Wealth Management clients of BNP Paribas Group’s Monaco subsidiary. This strengthens our position as Monaco’s leading bank and number one employer. We will work together to make this acquisition a success for both clients and employees.”
Françoise Puzenat, Head of Monaco at BNP Paribas says: “We are delighted with the agreement reached with CFM Indosuez, a recognised player in the market and with all the assets needed to ensure the best possible continuity of service for our clients and the employees who join them. The sale of the Wealth Management business in Monaco is part of our strategic decision to refocus our local activities on a single platform. BNP Paribas will continue to develop its domestic commercial banking business line in Monaco, which includes corporate banking, private banking and retail banking.”
The finalisation of the transaction remains subject to the prior approval of the relevant supervisory authorities and is expected to be completed during the first half of 2026.
