Founded in 1953, SMBP is jointly owned by la Caixa (25.1%), Credit Andorra (25%) and Dexia BIL (49.9%) since 1995. SMBP currently manages over EUR 630 million for wealthy private individuals and employs 58 individuals.
Established in Monaco since 1989, Bank von Ernst (Monaco) SAM is currently owned by Bank von Ernst & Cie, now part of the Coutts Group. As of end-June 2004, it managed some EUR 360 million on behalf of clients with a team of 24 employees.
Vivien Levy-Garboua, Head of BNP Paribas' Asset Management & Services division stated: "These transactions are part of our strategy to expand our private banking franchise in Europe. It allows us to consolidate our position as one of the leading private banks in Monaco”. François Debiesse, Head of BNP Paribas Private Bank added: “We are delighted to welcome strong teams of professionals who will be able to even more effectively serve current clients and build new relationships thanks to a broadened array of products and services".
Notes to Editors :
BNP Paribas (www.bnpparibas.com) is a leading global financial services group, with solid roots in Europe and significant positions in Asia and the Americas. It is the first banking group in the Euro zone in terms of net income. The group has one of the largest international banking networks with a presence in 85 countries and 89,000 employees. BNP Paribas enjoys key positions in Retail Banking; Corporate and Investment Banking; Private Banking, Asset Management, Insurance and Securities Services.
BNP Paribas Private Bank (privatebank.bnpparibas.com), the private banking arm of BNP Paribas, ranks among the top ten players world-wide in its field, managing EUR 100 billion on behalf of its clientele. It commands a leading position in France and occupies first-tier positions in the major international private banking centers.