PARIS, Nov. 23 /CNW/ - SG Private Banking, the wealth management arm of
the Société Générale Group, plans to establish its presence in Canada
following an agreement to acquire 100% of Canadian Wealth Management (CWM
Group Inc.). The acquisition, subject to regulatory approval, is expected to
be finalised in January 2008.
Having been established in Calgary for many years, CWM Group Inc. enjoys
a solid reputation in its market and manages around CAD $ 650 million. Its
wealth management business, which is built around highly personalised client
consultation, will benefit from SG Private Banking's international expertise,
particularly in structured products and alternative investments, allowing it
to significantly expand its services offering and meet the increasingly
sophisticated demands of its clients.
Beyond the opportunity to expand its client portfolio, this acquisition
reflects SG Private Banking's ambitions to further its international
expansion. More broadly, it will strengthen Société Générale Group's business
in Canada, where it is already present through its corporate and investment
Paul Boeda, Founder and Chief Executive Officer of CWM Group Inc., will
continue to develop the local wealth management activities of the business.
Société Générale is one of the largest financial services groups in the
euro-zone. The Group employs 120,000 people worldwide in three key businesses:
- Retail Banking & Financial Services: Société Générale serves
27,6 million individual customers worldwide.
- Global Investment Management & Services: Société Générale is one of
the largest banks in the euro-zone in terms of assets under custody
(EUR 2 585 billion, Sep 2007) and under management
(EUR 450.1 billion, Sep 2007).
- Corporate & Investment Banking: Société Générale ranks among the
leading banks worldwide in euro capital markets, derivatives and
Société Générale is included in the five major socially-responsible
SG Private Banking
SG Private Banking, the wealth management arm of Société Générale Group
is present in 23 countries, mainly in Europe and Asia, and ranks among the top
10 players worldwide (Euromoney 2007). Thanks to the know-how of its teams
specialising in asset engineering and asset allocation, SG Private Banking
offers customised solutions to clients with financial assets in excess of one
million euros, through a broad range of sophisticated products and services,
according to the principle of open architecture.
SG Private Banking's professionalism has earned it a number of awards. In
particular, it was voted "Best worldwide private bank for its offer in
structured products" (Euromoney 2005, 2006, and 2007). It was also named "Best
private bank in France and Luxembourg" (Euromoney 2007) and "Outstanding
Private Bank for its offer in Alternative Investments" (Private Banker
International 2005 and 2007).
The business, which was created in 1997, has experienced rapid
development and now employs more than 2,500 people. SG Private Banking has
EUR 75.5 billion euros in assets under management (30 September 2007).
For further information:
For further information: PRESS SERVICE SOCIETE GENERALE - CANADA,
Christina CARVALHO, (514) 841-6086, firstname.lastname@example.org; HEDLIN
LAUDER COMMUNICATIONS Ltd., Mona SMART, (403) 232-6251, email@example.com;
SOCIETE GENERALE GIMS PRESS DEPT, Jolyon BARTHORPE, Joelle ROSELLO, +33 (0)1
56 37 88 17/88; GROUP PRESS SERVICE SOCIETE GENERALE, +33 (0)1 42 14 49 48,