ABBL

Banque Havilland S.A. is pleased to announce that it has completed the acquisition of Dexia Private Bank Monaco S.A.M. from Dexia Banque Internationale à Luxembourg S.A.

This acquisition is part of Banque Havilland S.A.’s strategy to develop an international Private Banking group which will target Ultra High Net Worth clients. Banque Havilland S.A. is committed to grow the current business of the new subsidiary further with a particular focus on Wealth management services to this target client base in Monaco and abroad.

“We are very excited to be able to open up in Monaco. This is the perfect location for us to grow and drive our business forward. In Monaco we have direct access to the people who we feel will really appreciate what Banque Havilland has to offer “, says Jonathan Rowland, Director of Banque Havilland S.A.

The new subsidiary will be renamed Banque Havilland (Monaco) S.A.M., and will remain in its current offices at 3-9 boulevard des Moulins, and 32-34 boulevard Princesse Charlotte, 98000 MONACO.

The next few months will be focused on integrating the Monaco entity into the Banque Havilland group with the aim of being fully operational by the end of Q4 2011.

(Source: Banque Havilland S.A)