Compagnie Financière Richelieu heads Group Banque Richelieu, an international private wealth and asset manager based in Paris. Kaleido will complement the geographical footprint of the group, which operates in France, Monaco and in the UAE, across 3 business lines: wealth management, asset management and investment banking. The acquisition brings the group’s assets under management to ca. €10 billion. Subject to regulatory approval, Kaleido Privatbank is to be renamed to Banque Richelieu Switzerland.
Citadele Group is a Latvian based full-service financial group offering a wide range of banking products to retail, SME and corporate customer base as well as wealth management, asset management, life insurance, pension, leasing and factoring products. Alongside traditional banking services, Citadele Group offers a range of services based on next-generation financial technology, including a modern mobile application, contactless and instant payments, modern client onboarding practices and technologically-enabled best-in-class customer service.
A team of CMS headed by Dr Daniel Jenny (Partner) and Florian Jung (Senior Associate, both Corporate/M&A) and Tina Balzli (Partner, Regulatory) has comprehensively advised AS Citadele banka on all legal matters of this transaction. The team further included Sophie Weber (Associate), Isabel Klein, Emre Güzer, Tenzin Shrestha (all trainees, all Regulatory), Christian Gersbach (Partner), Miryam Meile (Senior Associate, both Employment), and Mark Cagienard (Partner, Tax).
