Societe Generale Private Banking Hambros (SGPB Hambros) has acquired Baring Asset Management’s private client investment management business, Fundamentals reports. The acquisition came into effect at the end of last month.

As per the deal, the Barings private client team will move to SGPB Hambros investment business, adds Jersey Finance. Hambros Bank was acquired by Societe Generale in 1998 to build up private banking in the U.K. and the Channel Islands.

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