Credit Agricole Agrees to Buy Swiss Wealth Manager Banque Thaler
(Bloomberg) — Credit Agricole SA’s wealth management unit Indosuez has agreed to buy Banque Thaler, a Swiss private bank, according to a statement from the French lender on Friday.
The deal would push Indosuez’s total assets under management to almost €220 billion ($243 billion), the bank said in the statement. The deal, which is subject to regulatory approval and expected to complete in the second half of this year, would have a “limited” impact on Credit Agricole’s CET1 ratio, a measure of capital strength.
Indosuez “is pursuing its growth strategy in a sector undergoing consolidation,” unit head Jacques Prost said in the statement.
The unit had €215 billion in client assets at the end of December 2024, it said in the statement. It didn’t disclose the value of the Thaler deal.
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