Desjardins Group has partnered with a co-operative organization in France to create a transatlantic private banking service. Paris-based Groupe Crédit Mutuel – CIC’s private banking subsidiary, Banque Transatlantique ‒ will be the French partner in Desjardins Transatlantique – Private Wealth Management. The newly-created division will serve Canadian and French high net-worth clients and members. These services include financial services, portfolio management, and those related to business transfers and intergenerational transfers of wealth. Desjardins Group says between 3,000 and 4,000 French citizens take up permanent residency each year in Quebec. The collaboration between the two organizations began in the 1980s when Groupe Crédit Mutuel – CIC invested in Desjardins’ damage insurance activities. The two organizations also came together in 2013 to create Monetico, an electronic payments service in addition to other ventures.
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