Creand Wealth Management (Banco Alcalá, S.A.), the private banking entity of the Crèdit Andorrà Group, has formalised the purchase of the high net worth and family office advisory business of GBS Finance, the securities agency of GBS Finance specialising in advising high net worth and family office clients. The purchase has been made after obtaining approval from the relevant regulatory bodies.
Once the transaction is completed, Creand Wealth Management will progressively integrate the business of GBS Finance Investcapital A.V. into a new family office area to be created by the bank, with the aim of “maintaining the focus on providing a comprehensive service to clients, close and aligned with their needs and interests.”
This operation is part of the Crèdit Andorrà Group’s strategy of consolidation and organic and inorganic growth in Spain, and the development of strategic alliances with benchmark institutions to extend the value offer to the client.
Deloitte Legal advised Banco Alcalá with a team led by partner and head of Banking and Finance Ignacio Echenagusia, Tax partner Ignacio García Alonso, Financial Services Industry (FSI) Regulatory & Compliance director Leovigildo Domene Velázquez de Castro. The deal also counted on the participation of lawyers Bernabé de Marcelino, Alexandra Hernández M., Fernando Hernando Sastre, Alejandro Espín and Andrea Sánchez González.
