Strategy
French Private Banks Merge, Launch Major Advertising Campaign
The two French private banks Neuflize and OBC, both part of ABN Amro, are to merge under a single brand called Neuflize OBC. The new pri...
The two French private banks Neuflize and OBC, both part of ABN Amro, are to merge under a single brand called Neuflize OBC.
The new private bank’s chief executive Pierre Fleuriot said the new entity aims to become “the French leader in private banking”. Neuflize OBC has targeted to grow assets under management to €30 billion ($36.1 billion) by 2008, currently the newly merged bank has €24 billion.
The bank said it controls around 15-20 per cent of the private banking market in France of those customers with more than €1 million of investible assets.
As part of its new brand and efforts to gain further clients in France, the newly merged bank has launched a major advertising campaign throughout the country. The campaign involves press and radio slots, and internet advertising.