Kleinwort Benson is now part of Societe Generale group
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Societe Generale confirms the closing of the acquisition of Kleinwort Benson in the UK and Kleinwort Benson Channel Islands Holdings Limited from Oddo & Cie.
The acquisition of Kleinwort Benson reflects Societe Generale’s growth strategy in private banking in its core markets of Europe, the Middle East and Africa, and is aligned with its ambition to be the relationship-focused private bank of reference.
The newly-acquired businesses will be fully integrated with Societe Generale Private Banking Hambros (SGPB Hambros), planned for early 2017. The combined SGPB Hambros and Kleinwort Benson business will represent more than £14 billion of assets under management.