LCL and Crédit Agricole Assurances have completed the acquisition of Groupe Milleis, the third largest independent private bank in France, with 64,000 client families and €13 billion in assets under management.

With the addition of Milleis, whose brands and network will be retained, LCL has set itself the means to reach €100 billion in assets under management in the private banking business by 2030.

For its part, Crédit Agricole Assurances is strengthening the positioning of its Spirica subsidiary in the high-end segment and expanding its distribution channels thanks to the integration of Milleis Vie.

For Nicolas Denis, Chief Executive Officer of Crédit Agricole Assurances, “This transaction is fully in line with the growth and value creation trajectory driven by ACT 2028, Crédit Agricole S.A.’s strategic plan will rely on Spirica’s expertise and the complementarity of its savings and retirement solutions to support the Millis Group’s customers over the long term.”

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