ABN Amro / BNP Paribas: private progression

BNP Paribas [BNP.PA] is to enter the Dutch private banking market with the purchase of Nachenius, Tjeenk & Co from ABN Amro [AAB.AS]. The deal reflects both banks' continuing plans to create a pan European private banking network. If the same pro-active approach can be extended to developing their recently acquired businesses then both groups look very well-placed for the future growth.

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ABN Amro/PPR: moving into French retail banking

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Axa: going for brokers?

Axa CEO Nicolas Moreau has admitted that the company is looking into buying a commercial broker, giving rise to speculation that Axa might use such a purchase to grow its share of the SME insurance market. A broker acquisition would also make sense for the insurer as a means of diversifying its revenue stream by securing a presence in areas complementary to its current offering.

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AXA: MONY trouble

AXA's [AXA] $1.5 billion offer for MONY [MNY] is meeting with opposition from the company's shareholders even though the MONY board has approved the deal. If AXA's takeover ambitions are thwarted, it would be a serious blow to the company's plans to develop its presence in the US.

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Bank details: French concerned about Internet security

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Barclays: French wealth deal could be glittering prize

Barclays [BARC.L] has entered into exclusive talks to buy two French wealth management operations from ING. The deal would be a natural extension of both groups' corporate strategies. It also provides Barclays with a rare acquisition opportunity that will make it a leading foreign player in the large but tightly held French private banking market.

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BNP Paribas: aiming for the impossible

The French bank plans to launch the service in July 2002, targeting people with E250-750,000 to invest. A lack of dedicated competition will work in BNP's favor, but if it is to be a success the group will have to achieve the near impossible, combining high service levels with low prices. It might just surprise the industry.

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BNP Paribas: fun in the sun for wealth management

BNP Paribas has opened an office in Marseille, France, to tap into wealthy clients there, and gives them access to one of the bank's unique selling points: philanthropy services. This follows a significant retail banking push in the Mediterranean region and capitalizes on both the bank's presence, and French high net worth individuals' responsiveness to internal bank referrals.

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BNP Paribas: making deals

French giant BNP Paribas will buy Cogent from Australia's AMP. The move is one of a string of deals that BNP Paribas has pursued as part of its international expansion, proving there is some conviction behind its global aspirations. However, it still has much to do before it can rival the likes of Citigroup and HSBC.

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BNP Paribas: no gambling in Monaco

BNP Paribas has announced two separate agreements designed to bolster its private banking business in Monaco. The two acquisitions, once finalized, will make BNP Paribas one of the leading private banks in the Principality. Following a number of other deals this year, the bank is leaving itself well placed to enhance profitability, while laying down strong foundations for longer-term growth.

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