The new combine will be called Sélection 1818. Held 66% by Banque Privée 1818 and 34% by Rothschild & Cie Banque, it will be headed by Cyril Chapelle, appointed Chief Executive Officer, with the support of a mixed management team, comprising staff from both entities.
The draft agreement of the project, which has received the required authorizations from the European Commission and from France’s prudential control authority, was signed between both partners last November.
With combined assets under management of €6 billion at March 31, 2011, Sélection 1818 is a distribution platform that provides an extended range of placement products (bank, insurance, international, real estate) and several services for independent financial advisors. Designed with an open architecture, the platform combines the best solutions the market provides.
Cyril Chapelle said: “With this major project, based on the complementarity of two platforms and our wish for development, our ambition is the emergence of a leading multi-product and multi-service platform dedicated to independent financial advisors in France”.
