Fortis's Private Banking division ties up with ICICI Bank in India
Fortis announced today that its Private Banking division has entered into a strategic non-equity alliance with India's second largest bank, ICICI Bank. Operating in most countries under the MeesPierson brand, the Private Bankers of Fortis are joining forces with ICICI Bank to offer wealth management solutions, estate planning, trust & corporate services and discretionary asset management to non-resident Indian nationals around the globe. Fortis is one of Europe's largest players in banking, insurance and related financial services, ranking among the top 20 financial institutions in Europe. MeesPierson, the Private Bankers of Fortis ranks among the top 15 European Private Banks and the Trust & Corporate Services division of the group, operating under the MeesPierson Intertrust brand, is a worldwide leader in its field of expertise. ICICI Bank, India's largest private sector bank, is a diversified banking entity offering a wide range of products covering the retail and corporate segments. The bank is a market leader in the retail, corporate and the institutional financial services segment in India. With a leading position in the Indian market and a large global footprint, ICICI Bank is the first Indian bank to offer a global wealth management solution aimed to meet its clients' needs, both within India and beyond. By following a judicious balance of in-house products and third party products, the bank has been able to create a holistic product suite across the entire risk spectrum starting from plain vanilla deposits and bonds to the more complex structured derivative products, international private equity and international real estate.
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