SGPB Hambros, part of Societe Generale Private Banking, has completed its acquisition of private client investment management business Baring Asset Management, London and Guernsey.
"Effective on May 31, 2011, the transfer to SGPB Hambros of Baring's private client team," the firm said, "will reinforce the existing SGPB Hambros investment business and illustrates its ambitions to continue to grow its activities in the UK and in the Channel Islands."
The SGPB Hambros Group employs over 500 staff, with principal offices in London, Guernsey, Jersey and Gibraltar, and has a UK regional presence in Cambridge, Newbury, Manchester, Lymington, Edinburgh and Leeds.
The acquisition follows a number of years of rapid growth since Hambros Bank was itself acquired by Societe Generale in 1998 to develop private banking in the UK and the Channel Islands.
.Tags: offshore | investment | business | banking | mergers and acquisitions (M&A) | offshore banking | international financial centres (IFC) | Guernsey | Jersey | Guernsey | Jersey
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