CIC in exclusive talks with Indosuez Wealth Management to sell private banking units in Singapore and Hong Kong

(June 16): French financial services firm Crédit Industriel et Commercial (CIC) says it has entered into exclusive discussions with Indosuez Wealth Management to sell its private banking activities in Singapore and Hong-Kong.

Indosuez Wealth Management is a private banking division of France's Credit Agricole.

“Combining the CIC private banking business in Asia with that of Indosuez Wealth Management would provide the clients, staff and partners of this activity of CIC with opportunities to develop and grow under the ownership of a strong financial institution,” says CIC in a press release.

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