Franco-German financial group Oddo & Cie has rebranded as Oddo BHF.
This rebranding follows the completion of three acquisitions by Oddo & Cie : Seydler Bank in January 2015, Meriten Investment Management GmbH in July 2015 and BHF-Bank in March 2016.
All business have now been integrated. Oddo BHF, which tallies currently 2,300 employees, comes with new visual and signature (literally finance to serve your ambitions).
Oddo Meriten AM will operate under the name of Oddo BHF Asset Management while the private banking and the corporate investment banking businesses of Oddo have been rebranded as Oddo BHF Banque Privée and Oddo BHF Corporate & Markets.
The group’s balanced sheet has reached €8.1bn as at end-December 2016 against €3.2bn as of end of December 2015.
Oddo BHF’s net profits are up 48% year-on-year having risen to €136m at the end of 2016 from €92m as of end 2015.
Consolidated own funds stood at €814m as of end 2016 against €742m as of end 2015.
The group’s assets under management has exceeded the €100bn cap. Also Oddo BHF reports a solvency ratio of 15%.
In order to manage the new structure, Oddo BHF has named an eight-strong team, composed of four German and four French people.
Grégoire Charbit oversees all legal and compliance activities within the group. He is also in charge of the strategic development of Oddo BHF.
Christophe Tadié is the chief risk and finance officer of the group while Frank Behrends will responsible for compliance matters and human resources in Germany. He will also be in charge of Oddo BHF’s strategic clients.
As from 15 April, Thomas Fischer will take over the role of chief operating officer.
Oddo BHF Banque Privée will be managed by Joachim Häger in Germany and France, Nicolas Chaput will be responsible for the firm’s asset management business. As from May 2017, Markus Beumer will head Oddo BHF Corporate & Markets.
Philippe Oddo, managing partner of Oddo BHF, said the group has massive knowledge of the two main eurozone markets (Germany and France) which form 60% of the whole market cap in the area.
“We have increased our capabilities in research and data systems. We want to import our new German expertises in France. Moreover, we have plans to bolster our product offering with private equity and real estate for instance,” he added.
The Oddo family holds 60% of Oddo BHF’s capital while the group’s employees own 30% of it.