Desjardins and Banque Transatlantique create
Desjardins Transatlantique - Private Wealth Management to assist
their high net worth members abroad
Lévis, QC, and Paris, France, January 24, 2017 - Desjardins Group and Crédit Mutuel - CIC are setting a new milestone in intercooperation. The two cooperative organizations are creating Desjardins Transatlantique - Private Wealth Management to better respond to the needs of members and clients anywhere in the world.
The Desjardins Transatlantique - Private Wealth Management division will offer French and Canadian high net worth members and clients comprehensive assistance for their financial services, portfolio management, business transfer or intergenerational transfer needs. France's Consulate General in Québec City reported in 2013 that each year, between 3,000 and 4,000 French citizens take up permanent residency in Québec.
"This partnership enables us to offer French expatriates in Canada complete assistance, explained David Eap, manager of the Montreal representative office of Banque Transatlantique. We can now offer our clients direct access to North American markets."
"We created this division so that we could assist Desjardins Private Wealth Management clients who conduct professional or personal business abroad, said Sylvain Thériault, Vice-President and General Manager of Desjardins Private Wealth Management. Canadian investors will now have the option of holding management mandates in Canadian dollars, U.S. dollars or euros."
Clients of Desjardins Transatlantique - Private Wealth Management can now benefit from the strength of Desjardins Group, the reputation of Groupe Crédit Mutuel - CIC and the expertise of two wealth management teams.
This partnership between two cooperative financial groups is part of a long tradition of intercooperation dating back to the 1980s, when Groupe Crédit Mutuel - CIC decided to invest in the damage insurance activities of Desjardins Group. The financial partnership continued in 2015 with the joint acquisition of the Canadian operations of State Farm. In 2012, a representation office was opened by each cooperative financial group in its partner's offices, in Paris and in Montreal. In 2013, Desjardins and Crédit Mutuel entered into a joint venture with a view to becoming a world leader in electronic payment services. The first step in the achievement of this goal was to create the Monetico global brand.
About Banque Transatlantique
Banque Transatlantique has been helping its clients to manage, optimize and transfer their wealth and assets for over a century. Founded in 1881 by Eugène Pereire, president of the Compagnie Générale Transatlantique, from which it takes its name, Banque Transatlantique has developed recognized expertise in private banking, asset management and administration of employee share ownership plans. The bank of French citizens living abroad, Banque Transatlantique leverages innovation and flexibility to respond to all the financial needs of expatriates. With assets under management of close to 30 billion euros, ten offices abroad and the backing of a leading financial group, Crédit Mutuel CIC, Banque Transatlantique provides its clients with dynamic service, personalized assistance and customized solutions.
Information (for journalists only):
David Eap, Manager, Montreal representative office
T +1 (514) 985-4137 M +1 (514) 641-7215 F +1 (514) 985-4138