Banca del Gottardo acquires full control of Oudart SA, Paris

Banca del Gottardo, Lugano, is acquiring one hundred per cent of share capital in Oudart Group SA, a Paris asset management company, of which Gottardo has been reference shareholder since 1999.

    Lugano (ots) - On 25 May 2004, Banca del Gottardo exercised its option to acquire the remaining 61% of share capital in the asset management company Oudart SA, Paris. The operation is part of the Bank's strategic planning which defines France and Italy as priority foreign markets for the development of its private domestic wealth management activities.

    Oudart Group, set up in Paris in 1987, is specialised in wealth management for private clients and currently has assets of approximately 1.7 billion Swiss francs in trust.

    As at the end of March 2004, Banca del Gottardo's assets under management amounted to a total of 40 billion Swiss francs in.The Bank's solid results for the first four months of the current year were over expectation.

    Marco Netzer, Chief Executive Officer: "France is an important market for Banca del Gottardo. With the acquisition of all of Oudart's capital, we have taken another important step in our policy of expansion in the French domestic market".

    Both parties have agreed not to disclose any further details concerning the transaction.

    Banca del Gottardo, with head office in Lugano (Switzerland),
operates through a well expanded national and international network.
Thanks to its highly qualified teams of experts and its affiliates,
subsidiaries, branches and representative offices in Zurich, Geneva,
Lausanne, Bellinzona, Chiasso, Locarno, Bergamo, Milan, Turin,
Athens, Luxembourg, Monaco, Vienna, Hong Kong, Nassau (Bahamas), as
well in Paris, the bank offers top level financial services to its
local and international clientele.

ots Originaltext: Banca del Gottardo

Banca del Gottardo
Franco Rogantini
Media Office
Viale S. Franscini 8
6901 Lugano
Phone:      +41/91/808'33'60
Fax:         +41/91/923'94'33

Weitere Meldungen: BSI SA

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