PARIS--(BUSINESS WIRE)--CIC, a subsidiary of Crédit Mutuel Alliance Fédérale, has announced a cooperation with private bank M.M. Warburg & CO in investment banking. This long term cooperation will begin by the distribution in France, the US and Canada of the research produced by M.M. Warburg. CIC and M.M. Warburg’s offers have significant market share in their respective countries, in particular on the segment of medium-sized companies. The partnership will provide both companies with access to a broader investor base.
The cooperation agreement also covers equity capital markets and brokerage activities. In the near term, M.M. Warburg & CO and CIC intend to broaden their collaboration to debt capital markets and structured products. Banque Européenne du Crédit Mutuel (BECM), the subsidiary of Crédit Mutuel Alliance Fédérale in charge of commercial banking activity for companies in Germany, will support this cooperation.
"The strategic cooperation with CIC will particularly benefit small and medium-sized enterprises, which will be able to seize a wider range of opportunities with our offering, and gain access to a broader investor base," says Dr. Peter Rentrop-Schmid, Partner at M.M. Warburg & CO. "This is where our offer begins," Dr. Rentrop-Schmid adds, "For these companies, it is essential to have broader access to capital markets.”
“The cooperation with M.M. Warburg & CO is an important step for CIC. In addition to what we offer in the United States through our subsidiary CIC Market Solutions, this cooperation expands our service offering to companies and investors in a demanding environment. Indeed, Germany is Crédit Mutuel Alliance Fédérale’s second domestic market thanks to TargoBank and BECM, and German Mittelstand companies lie at the heart of our business strategy," says Philippe Vidal, Deputy Chief Executive Officer of CIC.
CIC is a leading bank in France and internationally, and the bank for one out of every three companies in France. It provides its clients with a French network of close to 1,900 branches and 20 000 employees, as well as international offices in 34 countries. In order to meet the needs of all economic agents, it combines finance, insurance, telephony and cutting-edge technological services with considerable financial strength supported by that of its parent company Crédit Mutuel Alliance Fédérale.
For more information: www.cic.fr
CIC Market Solutions is the division of CIC dealing with financial market activities for all of Crédit Mutuel Alliance Fédérale’s customers.
About Banque Européenne du Crédit Mutuel (BECM)
A subsidiary of Crédit Mutuel Alliance Fédérale, BECM is a bank on a human scale that is decentralised to a large extent. Specialised in relations with property companies and professionals in France and Germany, BECM assists German family SMBs “Mittelstand” and businesses with a French parent company. Its Corporate Banking activity covers all Crédit Mutuel Alliance Fédérale’s business lines dedicated to this customer base. BECM’s second business line in Germany entails financing property portfolios held by professionals.
For more information: www.becm.fr
About Crédit Mutuel Alliance Fédérale
A leading bancassureur in France, present through almost 4,400 points of sale and serving 26.3 million customers, Crédit Mutuel Alliance Fédérale provides a diverse range of services to retail customers, local professionals and companies of all sizes.
For more information: www.creditmutuel.fr
Crédit Mutuel Alliance Fédérale comprises the following federations: Centre Eastern Europe (Strasbourg), South West (Lyon), Ile-de-France (Paris), Savoy-Mont Blanc (Annecy), Midi-Atlantic (Toulouse), Loire-Atlantic and Centre-West (Nantes), Centre (Orléans), Normandy (Caen), Dauphiné-Vivarais (Valence), Mediterranean (Marseille), Anjou (Angers), Massif Central (Clermont-Ferrand) and West Indies-Guyana (Fort de France). Crédit Mutuel Alliance Fédérale also encompasses the Caisse Fédérale de Crédit Mutuel, the Banque Fédérative du Crédit Mutuel (BFCM) and all of its subsidiaries, in particular CIC, EuroInformation, Assurances du Crédit Mutuel (ACM), Targobank, Cofidis, Banque Européenne du Crédit Mutuel (BECM), Banque Transatlantique, Homiris and CIC Iberbanco.
About M.M. Warburg & CO
M.M. Warburg & CO is an independent private bank headquartered in Hamburg. It has nine offices in Germany. As a universal bank, M.M. Warburg & CO is active in private banking, asset management and business financing. The bank is a specialist in German equities, and its sales teams have deep expertise in small and mid-caps. Working closely with research and execution teams, they stand out owing to their strong placement capacity with a large number of institutional clients, including insurance companies, pension funds, asset managers and wealth management companies. In February Warburg Bank also concluded a partnership with the main Polish bank, PKO, and opened access to its research services, which specialise in Germany, to Polish, Czech and Hungarian investors.