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ODDO BHF is a family-owned business created in 1849, spanning five generations of stock brokers.

• Camille Gauthier became a stock broker in Marseilles in 1849, at a time when brokers did not work on their own behalf but rather executed orders for clients.
• The family firm was then taken over by two of his sons, Gabriel and Paul.
• Then, Paul's nephew Albert took over the firm.
• One of Albert’s nieces married Jean Oddo and their third son, Bernard, joined the company as bookkeeping clerk. During World War II, French stocks that had “fled” occupied Paris were listed on the Marseilles stock exchange. At the end of the war, Bernard Oddo left the firm and moved to Paris.

IN PARIS, THE CHOICE TO REMAIN INDEPENDENT WHEN THE MARKET OPENED UP TO COMPETITION

In 1967, Bernard Oddo set up on his own, buying a Parisian firm whilst at the same time resuming his studies at 47 years of age.

• His sons Pascal and Philippe Oddo joined the firm in 1973 and 1984, respectively.
• At his father’s retirement in 1987, Philippe Oddo became partner alongside his brother.
• In 1989, following reforms to the legal status of stock broker in France, Pascal and Philippe Oddo decided to remain independent, despite receiving many offers from French and international companies alike.
• In order to bolster the group’s financial solidity its capital was opened up to different institutions, lifting its shareholders’ equity to 250 million francs. 

A MANAGEMENT BOARD THAT DRIVES VERY DYNAMIC DEVELOPMENT

In 1995, Pascal Oddo left the group in order to pursue a different career in the financial domain. Acquiring his stake in the company, Philippe Oddo decided to put in place a management board: which still operates today.

In the years following the reform of the legal status of stock broker in France, the company experienced a period of rapid yet steady growth, both internally and externally.

• In 1991, the Oddo Services subsidiary was created in Madrid.
• In 1997, the company acquired Delahaye Finance to strengthen its private wealth management business.
• This led to the creation of Oddo Asset Management in 1999, following Oddo Options and Oddo Securities Corporation in New York.
• In 2000, the group grew further by acquiring Pinatton.

In 1971, the family firm had around 40 employees...but less than 30 years later, its headcount was 12 times higher, reaching 480 by the year 2000! Thanks to the ODDO BHF Group's ethos of employee share ownership, 30% of the capital is held by staff. This empowers its employees, giving them greater responsibility in decision-making.

A BUSY TIME FOR ACQUISITIONS SINCE 2003

Throughout the first decade of the new millennium, ODDO BHF’s management was very attentive to external growth opportunities.

• The company acquired NFMDA (private wealth management) in 2003, the Crédit Lyonnais’ European brokerage activities in 2004 and Cyril Finance (asset management) in 2005.
• In 2006, the groupe took the unusual step of taking over a metals trading business. This led to the creation of Oddo Metals which currently has a 20% share of the aluminium trading market in Europe.
• As part of its strategy of constant innovation, the group is also involved in a number of joint-ventures to explore new areas of expertise. These include Génération Vie, a life insurance company created in cooperation with AGF (formerly Allianz).

GROWTH IN INVESTMENT BANKING…

• In 2009, the group merged with Partanea to enhance its Oddo Corporate Finance investment banking activities, particularly advisory services for mergers and acquisitions.
• In 2009, the group also grew its research base. In order to cover a higher number of stocks and sectors, Oddo Securities expanded by creating the Oddo Research Institute in Tunis.

…COMBINED WITH RAPIDLY GROWING CAPITAL MANAGEMENT ACTIVITIES

• In 2010 and 2011, the group strengthened its private management activities by successively acquiring Banque d’Orsay and Banque Robeco.
• The group also consolidated its Oddo Services back office outsourcing solutions activities.
• In 2012, following the tender offer won in Switzerland on behalf of a German bank, the group opened Oddo Services Switzerland.
• In December 2013, a partnership was initiated with EFA (European Fund Administration), an independent company specialising in fund administration services. This partnership is consistent with the rationale of independence and international expansion of ODDO BHF Group's asset management business.

A FRANCO-GERMAN DEVELOPMENT STRATEGY

On 5 January 2015, the group acquired Close Brothers Seydler Bank AG, a Frankfurt-based company, which subsequently became Oddo Seydler Bank A.G.

• This acquisition marked the first stage of the group's Franco-German development.
• It enabled the group to develop its expertise in Germany, to underpin its capacity to invest on behalf of its clients in Germany.
• In July 2015, this strategy was bolstered by the acquisition of Meriten Investment Management GmbH, a company specialising in asset management.
• Lastly, in 2016, the group opted for a link-up with BHF Kleinwort Benson Group SA. Its BHF-BANK AG subsidiary is a well-established player in private banking and asset management in Germany. Created in 1854, BHF-BANK is the German private bank of Mittelstand companies. It provides wealth management services for their owners and executive management, in addition to financing for these companies. At 31 December 2015, BHF had 1,100 employees and € 42.7bn in client outstandings.
• Following a voluntary and conditional counterbid for the shares of BHF KB by the Management Board, the Oddo Group obtained 100% of the German company's capital in March 2016.

A BENCHMARK INDEPENDENT FRANCO-GERMAN PLAYER IN THE EUROZONE FINANCIAL SECTOR

• Since this acquisition, the group is called ODDO BHF and has set up a Franco-German management team.
• ODDO BHF has three main activities, based on a strong investment in market expertise: private banking, asset management, corporate and investment banking.
• In 2018, ODDO BHF entered into a partnership with Natixis to create a major player in continental Europe in equity and primary equity intermediation, and completed the acquisition of private equity firm ACG Capital, which has €2 billion in assets under management. This management company was renamed ODDO BHF Private Equity. 
• ODDO BHF now employs 2,300 people, more than half of them in Germany, and manages 100 billion customer assets.
• In 2018, ODDO BHF generated net banking income of €591 million and, as at 31 December 2018, the group had more than €866 million in equity.