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.