UBS France completes acquisition of Banque Leonardo

UBS France, the French arm of Swiss financial giant UBS, has announced it has fully acquire the capital of Banque Leonardo, the Paris-based subsidiary of Italian group Banca Leonardo.

The company has partnered with Michel Cicurel and Marc Lévy, respectively chairman and chief executive of Banque Leonardo, who established a holding called La Maison.

Following the acquisition, UBS France confirmed in a statement that at the start of October 2017 and pending to regulatory approval, two companies will work together: UBS France and La Maison de Gestion that gathers Ocea Gestion – the former investment branch of Banque Leonardo France – and UBS Asset Management France.

La Maison de Gestion, which will have UBS France as majority shareholder, will have some €4bn of assets under management.

ABOUT THE AUTHOR
Adrien Paredes-Vanheule
Adrien Paredes-Vanheule is French-Speaking Europe Correspondent for InvestmentEurope, covering France, Belgium, Geneva and Monaco. Prior to joining InvestmentEurope, he spent almost five years writing for various publications in Monaco, primarily as a criminal and financial court reporter. Before that, he worked for newspapers and radio stations in France, in particular in Lyon.

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