ウェルスマネジメント市場におけるM&A、パートナーシップ、有機成長：2007年第4四半期

Abstract

Introduction

This tracker covers merger/acquisition activity globally in the wealth management space. It also highlights the strategic partnerships, and expansion (or contraction) of existing businesses.

Scope of this report

• The tracker covers the M&A and partnership activities of the largest global and regional wealth management companies;
• It provides an update of each player' s activities in this area and a roundup chapter which offers readers a summary of key trends in that quarter;
• The tracker is global in coverage, therefore encompassing market entry strategies as well as domestic M&A activity.

Research and analysis highlights

During the final quarter of 2007, M&A activity supported expansionary aims, primarily in Western and Eastern European markets. A number of wealth managers also pursued acquisitions in order to develop or reinforce their competence in non-core and operational areas.

Compared to the previous quarter, M&A activity in emerging markets was muted, with only SEB and Merrill Lynch / TRUST making forays into Ukraine and Russia, respectively.

Partnership activity during the quarter was limited to Europe and Japan while market entry or expansion through organic growth initiatives favoured European markets, with some activity also reported in the Middle East and Asia.

Key reasons to read this report

• Understand the competitor activity in your market and potential threats and opportunities;
• Gain insight into your competitor' s strategic movements.

Table of Contents

THE ROUNDUP

• M&A
• Partnership
• Organic growth

THE DEVELOPMENTS

• ABN AMRO
  • Barclays withdraws offer for ABN AMRO (M&A) - Oct 2007
  • ABN AMRO completes sale of LaSalle to Bank of America (Divestment) - Oct 2007
  • ABN AMRO announces end of co-operation with Rothschild (Partnership) - Dec 2007
  • ABN AMRO finalizes sale of ABN AMRO Mellon joint venture (Divestment) - Dec 2007
• Banca del Gottardo
  • BSI to acquire Banco del Gottardo (M&A) - Nov 2007
• Bank of Tokyo Mitsubishi UFJ
  • BTMU and kabu.com Securities strengthen their partnership (Partnerships) - Nov 2007
• Barclays
  • Barclays withdraws offer for ABN AMRO - Oct 2007
  • Barclays Wealth opens new office in Glasgow, Scotland (Organic Growth) - Nov 07
• Citigroup
  • Citi completes acquisition of ATD (M&A) - Oct 07
  • Citi signs share agreement with Nikko Cordial (M&A) - Oct 07
  • Citigroup to sell $7.5 billion of equity units (Divestment) - Nov 07
• Commerzbank
  • Commerzbank opens office in Eastern Europe (Organic Growth) - Oct 07
• Crédit Agricole
  • Crédit Agricole acquires National Bank' s subsidiary (M&A) - Nov 07
  • Crédit Agricole purchases stake in Spanish bank (M&A) - Nov 07
• Credit Suisse
  • Credit Suisse acquires majority interest in Brazilian wealth manager (M&A) - Nov 07
  • Credit Suisse launches private banking business in Austria (Organic Growth) - Nov 07
• Deutsche Bank
  • Deutsche Bank opens Qatar branch (Organic Growth) - Nov 07
• Fortis
  • Fortis receives approval for ABN AMRO acquisition (Divestment) - Oct 07
  • Fortis agrees to sell its stake in ICBC (Divestment) - Dec 07
• Hang Seng
  • Hang Seng China opens Hangzhou Branch - (Organic Growth) Nov 07
• HSBC
  • HSBC sells US advisory business in management buy-out - (Divestment) Dec 07
• Julius Baer
  • Julius Baer opens representative office in Abu Dhabi - (Organic Growth) Nov 07
  • Julius Baer obtains authorization to open advisory office in Milan - (Organic Growth) Nov 07
  • Julius Baer acquires Capital Invest - (M&A) Oct 2007
• Merrill Lynch
  • Merrill Lynch acquires stake in Trust Banking - (M&A) Nov 07
• Mizuho Holdings Inc.
  • Mizuho establishes Canada branch and Vancouver office - (Organic Growth) Nov 07
• Monte Paschi di Sienna (MPS)
  • Monte dei Paschi di Siena to buy stake of Biverbanca - (M&A) Dec 07
  • MPS Group, new agreements with the founding shareholders of Intermonte Sim - (M&A) Nov 07
• OCBC
  • OCBC Malaysia receives approval to set up Islamic banking subsidiary (Organic Growth) - Nov 2007
• Pictet & Cie
  • Pictet opens office in Barcelona (Organic Growth) - Nov 2007
• PNC
  • PNC to acquire Albridge Solutions Inc. (M&A) - Nov 2007
  • PNC sells Hilliard Lyons to Houchens Industries (Divestment) - Nov 2007
• RBC Financial Group
  • RBC to acquire RBTT (M&A) - October 2007
• Sal. Oppenheim
  • Sal. Oppenheim cooperates with Dr. Landert Group (Partnership) - Oct 2007
  • Sal. Oppenheim acquires stake in Mediobanca (M&A) - Dec 2007
• Santander
  • Banco Santander sells Banca Antonveneta (Divestment) - Nov 07
• Sarasin
  • Bank Sarasin acquires the investment account service of DWS Investments Switzerland (M&A) - Oct 07
  • Bank Sarasin to open a new subsidiary in Bahrain (Partnership, Organic Growth) - Oct 07
• SEB
  • SEB expands in Ukraine (M&A) - Nov 07
  • SEB acquires Key Asset Management (M&A) - Nov 07
• Société Générale
  • SG Private Banking to acquire Canadian Wealth Management (M&A) - Nov 07
• UBS
  • UBS to acquire Caisse Centrale de Réescompte Group (M&A) - Oct 07
• Unicredit
  • UniCredit listed on the Warsaw Stock Exchange (Organic Growth) - Dec 07
• United Overseas Bank (UOB)
  • Establishment of a wholly-owned subsidiary bank in China (Organic Growth) - Dec 07
• Wachovia
  • Wachovia completes A.G. Edwards merger (M&A) - Oct 07
  • Opening of Wachovia Bank International Office (Organic Growth) - Oct 07
• Westpac
  • Launch of BT Investment Management Limited IPO (Organic Growth) - Oct 07

APPENDIX

• Methodology
• Further reading
• Ask the analyst
• Datamonitor consulting
• Disclaimer