Paris-based companies Rothschild & Co and Compagnie Financière Martin Maurel have effectively merged their two holdings, following the announcement of the merger of their private bank activities in June 2016.
All regulatory approvals have been given to the operation.
The move aims to establish one of the largest independent private banks in France. The merger will be fully integrated by the second half of 2017.
The new entity, which will operate under the brand Rothschild Martin Maurel, will manage €34bn with offices in France, Belgium and Monaco.
Rothschild & Co’s chairman David de Rothschild said the move is in line with the group’s growth strategy in private banking.
The trading of Compagnie Financière Martin Maurel’s shares on Euronext Paris has been suspended while new shares of Rothschild & Co will be traded as from 4 January 2017.