Introduction

This tracker covers merger and acquisition activity globally, across the wealth management space. It also highlights the strategic partnerships, and expansion, or contraction, of existing businesses. There is also a focus on the key emerging markets, namely China, India, CEE and the Middle East.

Scope

The tracker covers the M&A and partnership activities of the largest global and regional wealth management companies It provides an update of each player's activities in this area and a roundup chapter which offers readers a summary of key trends in that quarter The tracker is global in coverage, therefore encompassing market entry strategies as well as domestic M&A activity

Highlights

Mergers and acquisitions in the wealth management market are largely being undertaken in markets with a large number of very small and very large players, as consolidation of the market continues apace in developed geographies. In this quarter, a significant amount of the M&A activity occurred in the US. Partnerships revolved around achieving strategic goals in the early months of 2007, with many wealth managers seeking to partner with firms able to offer an expansion of the target client base or the existing service capability. Several strategic alliances were formed this quarter.

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Table of Contents 2
The Roundup 4 2
M&A 4 2
Partnership 4 2
Organic growth 4 2
The Developments 5 2
ABN AMRO 5 2
Bank of America 5 2
Bank of Tokyo Mitsubishi UFJ 5 2
Barclays 5 2
BBVA 5 2
BNP Paribas 6 2
Citigroup 6 2
DBS 7 2
Deutsche Bank 7 2
Dexia 8 2
Hang Seng Bank 8 2
Julius Baer 8 2
KAS Bank 8 2
KBC 9 2
Mellon 9 2
Merrill Lynch 9 2
Morgan Stanley 9 2
Nordea 10 2
RBC Financial Group 10 2
Sal. Oppenheim 10 2
Santander 10 2
Sarasin 10 2
UBS 11 2
United Overseas Bank (UOB) 11 2
APPENDIX 12 2
Methodology 12 2
Further reading 14 3
Ask the analyst 14 3
Datamonitor consulting 14 3
Disclaimer 14 3
The Roundup 4
M&A 4
Partnership 4
Organic growth 4
The Developments 5
ABN AMRO 5
ABN AMRO and Barclays discussing merger - March 2007 5
Bank of America 5
Bank of America obtains permission for U.S Trust Acquisition (M&A) - March 07 5
Bank of Tokyo Mitsubishi UFJ 5
Bank of Tokyo Mitsubishi UFJ set to liquidate Union Bank of California International (M&A) - January 07 5
Barclays 5
Barclays and ABN AMRO discussing merger (M&A) - March 07 5
BBVA 5
BBVA officially sign partnership agreement with CITIC Group, China (Partnership) - March 07 5
BBVA acquires 100% of Compass Bancshares to grow US business (M&A) - February 07 6
BNP Paribas 6
BNP Paribas and BNL have approved the merger plan (M&A) - March 07 6
Dexia and BNP Paribas entered discussions regarding Dexia Banque Privée France (M&A) - December 06 6
Citigroup 6
Citi China gains approval to operate as a Locally Incorporated Bank (EME) - March 07 6
Citigroup Confirm Acquisition of Quilter (M&A) - December 06 6
Citibank maintains CitiGold focus in Belgium with the opening of a third investment center (Organic Growth) - December 06 6
DBS 7
First Islamic bank in Singapore set up by DBS (Organic Growth) - March 07 7
DBS approved for local incorporation in China (Organic Growth) - December 06 7
Deutsche Bank 7
Deutsche Bank Opens New Branches in US (Organic Growth) - March 07 7
Deutsche Bank to expand into Vietnam (Organic Growth) - February 07 7
Deutsche Bank to be first third-party provider of structured products to UBS (Partnership) - March 07 7
Deutsche Bank implements new IT platform (Partnership) - January 07 7
Dexia 8
Dexia and BNP Paribas entered discussions regarding Dexia Banque Privée France (M&A) - December 06 8
Hang Seng Bank 8
Hang Seng Bank opens new sub-branch including Prestige Banking Center (Organic Growth) - January 07 8
Julius Baer 8
Julius Baer establishes branch in Singapore (Organic Growth) - March 07 8
KAS Bank 8
Dutch KAS Bank moves private banking over to Nachenius Tjeenk (Partnership) - Feb 07 8
KBC 9
KBC announce acquisition of A Banka (M&A) - January 07 9
Mellon 9
Mellon moves into Connecticut (Organic Growth) - February 07 9
Merrill Lynch 9
Merrill Lynch and Carver Bancorp create an alliance (Partnership) - March 07 9
Merrill Lynch set to acquire First Republic Bank (M&A) - January 07 9
Morgan Stanley 9
Morgan Stanley to open wholly-owned subsidiary in India (M&A) - February 07 9
New teams hired for Morgan Stanley's Latin American operation (Organic Growth) - February 07 9
Citigroup Confirm Acquisition of Quilter (M&A) - December 06 10
Nordea 10
Nordea acquires a majority of Russia's Orgresbank (M&A) - March 07 10
RBC Financial Group 10
RBC creates Wealth Management segment (Organic Growth) - February 07 10
Sal. Oppenheim 10
Sal. Oppenheim expand throughout Cologne (Organic Growth) - February 07 10
Santander 10
More of Bank of America's wealth management portfolio is transferred to Santander (Partnership) - February 07 10
Sarasin 10
Bank Sarasin reshuffles business (M&A) - January 07 10
Rabobank becomes Bank Sarasin's majority shareholder (M&A) - January 07 11
UBS 11
UBS and Standard Chartered Bank form alliance to distribute funds to Standard Chartered's wealthy clients (Partnership) - January 07 11
UBS completes acquisition of private client branch network of McDonald Investments (M&A) - February 07 11
United Overseas Bank (UOB) 11
New branch for UOB (Organic Growth) - February 07 11
APPENDIX 12
Methodology 12
Further reading 14
Ask the analyst 14
Datamonitor consulting 14
Disclaimer 14