The transaction is expected to complete in the first half of next year.

CFM Indosuez, the Monaco entity of Indosuez Wealth Management, has agreed to acquire the wealth management clients of the BNP Paribas subsidiary in Monaco.

Completion of this transaction, which is subject to regulatory approval, is expected to be wrapped up during the first half of 2026, Indosuez said in a statement yesterday. 

The acquisition – the price of which was undisclosed – is expected to have a limited effect on the Common Equity Tier 1 capital ratio of Crédit Agricole, the parent of Indosuez. 

“This acquisition would enable Indosuez Wealth Management to assert its leading position on the Monegasque market in which it has been present since 1922,” Indosuez Wealth Management said.

“This acquisition would strengthen our position in Monaco with ultra-high net worth clients (UHNW). Indosuez is pursuing its growth strategy in a sector undergoing consolidation and is a major player in wealth management in Europe,” Jacques Prost, chief executive of Indosuez Wealth Management, said. 

Françoise Puzenat, head of Monaco at BNP Paribas said: “The sale of the Wealth Management business in Monaco is part of our strategic decision to refocus our local activities on a single platform. BNP Paribas will continue to develop its domestic commercial banking business line in Monaco, which includes corporate banking, private banking and retail banking.”

Monaco is a significant international financial centre. However, earlier in June, the European Commission included Monaco in its updated list of high-risk jurisdictions, presenting strategic deficiencies in their national anti-money laundering and countering the financing of terrorism regimes. This publication commented about the Commission’s logic here.