Crédit Agricole outlines private banking ambitions

Crédit Agricole has outlined four main
strategic ambitions under its Commitment 2014 plan to become the
market leader in Europe.

Crédit Agricole Private Banking’s targets within
the next three years include:

• Step up its pace of growth in fast-growing
  regions, namely Asia and Latin America
• Grow its high net worth customer numbers;
• Make international-standard products and
  services more accessible to the bank’s customers in Europe’s key
  markets;
• Improve the unity and visibility of the bank’s
  private banking arm by creating a dedicated holding company, which
  is under review.

Over half of AuM abroad

In February 2011, Crédit Agricole reported it
had 55% of assets under management abroad, with continued expansion
in high-growth regions, and assets under management of €128bn
($181bn) and 11.5% increase on 2009.

Crédit Agricole also said it was boosting its
2011-14 recruitment plan mainly centred in growth regions and
sectors, representing an increase of around 20% in the sales force,
or one-third of total customer deposits in 2010-14.

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