French financial services group Oddo & Cie has confirmed the acquisition of the German securities trading house Oddo Seydler Bank AG.
The Franco German business now aims to combine its expertise in offering adivisory and placement capacity in both countries.
Close Brothers Seydler Bank AG will now be named Oddo Seydler Bank AG and become the investment banking arm of the Oddo Group in Germany, based in Frankfurt.
Oddo Seydler’s Management Board continues to include René Parmantier and Holger Gröber. In addition René Parmantier, CEO of Oddo Seydler, has been appointed as member of the Executive Committee of Oddo Group’s Investment Bank.
Parmantier comments on the agreement:”We are delighted with the new prospects that this link-up opens up for us and the opportunities it offers our clients. We are proud to affirm our identity as an integral part of Oddo & Cie thanks to our new name, Oddo Seydler Bank AG, whilst maintaining our independence, which is one of the key values of the Oddo Group.”
The firms Supervisory Board will be chaired by Philippe Oddo, general partner of Oddo & Cie as well as Grégoire Charbit, managing partner of Oddo & Cie and Ronald Latenstein, director of International Development of Oddo & Cie.