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Paris, November 18, 2021.
The ODDO BHF Group has announced that it has entered into exclusive negotiations with QUILVEST WEALTH MANAGEMENT with a view to acquiring 100% of the capital of QUILVEST BANQUE PRIVEE S.A. Founded by the Bemberg family and based in Paris for over 100 years, QUILVEST BANQUE PRIVEE has developed unique expertise, making it a trusted partner of excellence for its clients, including entrepreneurs, family groups, institutional investors and individuals. Today, the bank manages more than €2 billion in assets for 2,500 clients.
If the merger is completed, the ODDO BHF Group intends to retain the model developed by QUILVEST BANQUE PRIVEE. Management and all its teams will continue to serve their clients from “243 boulevard Saint-Germain” in Paris. This merger between two family-owned companies will enable QUILVEST BANQUE PRIVEE's clients and teams to continue to benefit from its current services, but also to take advantage of the additional services offered by a European leader in finance, whose expertise and know-how are particularly well known in financial analysis (with more than 700 stocks monitored in Europe), asset management (with more than €65 billion in assets under management), and private banking, with a strong presence in France, Germany and Switzerland, and more than €50 billion under management on behalf of its clients.
The aim of this transaction is to enable ODDO BHF to complete its market coverage thanks to the expertise and independent positioning of QUILVEST BANQUE PRIVEE. It will also create a new growth dynamic with the aim of opening up this platform to other private banks and asset management companies. It will be an additional asset for the Group in strengthening its positioning in the large private banking client segment, where ODDO BHF aims to grow significantly.
Eric Libault, President of QUILVEST BANQUE PRIVEE: "This merger is a response to QUILVEST BANQUE PRIVEE's desire to join forces with a family-owned financial group that represents one of the most successful companies on the Paris stock exchange and embodies a rare dynamism in the European landscape. As our benchmark securities provider since 2014, the ODDO BHF group was already an important partner for our teams and indirectly for our clients. This new step will enable us to enrich our product and service offering for the benefit of our clients, and thus to continue the growth dynamic we have been experiencing for several years.”
Grégoire Charbit, Managing Director of ODDO BHF: "We are very pleased to welcome the QUILVEST BANQUE PRIVEE teams to our Group. Our ambition is to make QUILVEST BANQUE PRIVEE the first division capable of welcoming new banks or management companies, which would thus retain their autonomy while benefiting from our IT and back-office infrastructure, and our range of services and expertise.”
About ODDO BHF
ODDO BHF is an independent Franco-German financial services group, with a history stretching back over 170 years. It was created from the alliance of a French family-owned business built up by five generations of stockbrokers and a German bank specialising in Mittelstand companies. With 2,500 employees (1,300 in Germany and Switzerland and 1,200 in France and Tunisia), and more than 125 billion euros in assets under management, ODDO BHF operates in three main businesses, based on significant investment in market expertise: private banking, asset management and corporate and investment banking. The Group has a specific ownership structure as 65% of its capital is held by the Oddo family and 25 % by employees. This “partnership” ethos guarantees the long-term involvement of its teams. In 2020, ODDO BHF generated net banking income of 624 million euros, and at 31 December 2020, the Group had over 940 million euros of shareholders' equity.
About QUILVEST BANQUE PRIVEE
Based in Paris for over 100 years, Quilvest Banque Privée has special client expertise and serves individuals, family groups, entrepreneurs and institutional investors. It does so based on strong values it shares with Quilvest Wealth Management, such as a desire for independence, objectivity of advice, transparency, and the conviction that true wealth management is built on trust and long-term performance. Quilvest Banque Privée in Paris has a team of around 50 employees and manages assets of over 2 billion euros in 2021.
About QUILVEST GROUP
Quilvest is a leader of the alternative asset investment through its subsidiaries Quilvest Switzerland and Quilvest Capital Partners, with 8 offices worldwide, gathering 150 employees and $14 billion of assets under management.
CITIGATE DEWE ROGERSON
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