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Societe Generale Bank of Lebanon announces the finalization of the acquisition of KBL Richelieu Private Bank (formerly KBL Monaco Private Bankers) and Richelieu Gestion (KBL Richelieu Gestion) With the approval of the relevant regulatory authorities, particularly the Bank of Lebanon, the European Central Bank and the Prudential Supervisory Authority (ACPR). The banking group, which includes badets under management (AUM) worth $ 3.6 billion, will be led by the French financial company Compagnie Financière Richelieu, led by Anton Sahnawi and wholly owned by the Company. General of Lebanon. ML
Compagnie Financière Richelieu will manage this new platform, specialized in private banking and badet management, by aligning each entity on its place in the banking market and by encouraging its involvement in a dynamic and a perspective to long term. Richelieu France supports its clients by offering them integrated money management services, offering them tailor – made investment solutions and offering them a wide range of financing methods. Richelieu Monaco offers its clients around the world exclusive and specialized financial services. Since its creation, Richelieu Gestion has created specialized investment funds because of its historical experience in security selection and prudent management.
On the occasion, Mr. Sahnawi said: "This acquisition will significantly strengthen the SGBL range in all its businesses."
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