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SocGen to buy former Chinese private banking target

16 March 2016

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©Christophe Petit Tesson/MAXPPP – 16/02/2012 ; PARIS LA DEFENSE ; FRANCE – Le siege de la Banque Francaise Societe Generale a La Defense. French bank Societe Generale headquarters in La Defense district near Paris on February 16, 2012. (MaxPPP TagID: maxnewsworldtwo179593.jpg) [Photo via MaxPPP]

Societe General (SocGen) has agreed to buy Kleinwort Benson, one of the oldest names in British private banking that was just last year poised to be part of a private Chinese conglomerate. SocGen will be taking the bank off the hands of French rival bank Oddo & Cie, which acquired the unit’s parent BHF Kleinwort Benson earlier this year for €760…

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