French mutual bank Groupe Caisse d'Epargne has announced the name of its new private banking unit - La Compagnie 1818. The new bank will offer a range of wealth management services such as investment and real estate products and loans, including third-party investment products. It will take over the business of the group’s Vega Finance, Banque Sanpaolo and Credit Foncier Banque businesses. IXIS Private Capital Management arm could be included soon too, according to the bank. The unit will have a staff of 230 and will be operational in the near future. It aims to have €7 billion in assets under management and €500 million in loans in 2007.