HSBC Private Bank has signed an agreement with Monaco-based wealth manager for client referrals.
CFM Indosuez Wealth Management, which is a part of Credit Agricole group, will be accepting clients introduced to it from HSBC's client base in Monaco as part of the referral agreement.
The process will begin immediately.
The company said: 'This agreement is in line with Indosuez Wealth Management Group’s strategy to strengthen its positions with UHNWI clients in its key markets; it also reinforces CFM Indosuez Wealth Management’s leadership as the largest bank in the Principality of Monaco.'
Indosuez Wealth Management has €110 billion in assets under management with 2700 employees across 14 locations around the world.
The wealth management arm of Credite Agricole, established its Monaco base in 1922 under the CFM Indosuez Wealth brand.