The launch of the new division is said to be fully in line with the Crédit Agricole’s Client Project

Credit Agricole

Crédit Agricole’s headquarters in Montrouge, France. (Credit: Crédit Agricole.)

Crédit Agricole Corporate and Investment Bank (Crédit Agricole CIB) and Indosuez Wealth Management have formed a new investment banking division to support ultra-high net worth individuals and family holdings across the world.

Indosuez Wealth Management is a wealth management brand of Crédit Agricole.

The launch of the new division Private Investment Banking is said to be fully in line with the Crédit Agricole’s Client Project.

The new investment banking division is expected to leverage Crédit Agricole CIB and Indosuez Wealth Management’s service offerings, along with the capabilities of the whole banking group.

Crédit Agricole CIB coverage and investment banking global head Didier Gaffinel said: “Family-owned companies have demonstrated their strength, resilience and forward-looking approach, even in a very uncertain environment.

“By making the most of the synergies between investment banking and wealth management, Private Investment Banking will allow us to be even closer to family holdings and to better and more proactively support their needs.”

The new division to support long-term strategies of family holdings

Crédit Agricole will also support Private Investment Banking through its international ecosystem, which is active in more than 45 countries.

The division will support family holdings and their shareholders in executing their long-term strategies by utilising the banking group’s network and the synergies between corporate and investment banking and wealth management.

The new division will be led by Silvia Calvello, who has been appointed as Private Investment Banking’s global head.

Previously Calvello was Crédit Agricole CIB’s senior banker for large French clients and global head of consumer goods, retail and business services sector.

Calvello said: “Ultra-high net worth individuals and family holdings stand out for their increasingly sophisticated expectations: our goal is to meet these expectations. Private Investment Banking aims at being a source of new ideas and opportunities to support family holdings in their development.

“Our objective is fully in line with Crédit Agricole group’s client, human and social project.”

Recently, the French cooperative bank has announced a 18.5% drop in its net income for the third quarter of 2020.