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Paris-based international group Banque Richelieu has announced the acquisition of Kaleido Private Bank, which is based in Zurich.
This acquisition enhances the group’s geographical reach. Banque Richelieu currently operates in France, Monaco, and the United Arab Emirates across three business lines: wealth management, asset management, and investment banking.
Kaleido will be rebranded as Banque Richelieu Switzerland. This acquisition brings the group’s assets under management to approximately €10bn (CHF 9.3bn).
