Latest news with #CréditAgricole
Yahoo
11 hours ago
- Business
- Yahoo
Indosuez gains BNP Paribas wealth management clients in Monaco
The local BNP Paribas Group Wealth Management clientele will be acquired by Indosuez Wealth Management, a division of Crédit Agricole Group, as part of an agreement to increase its presence in Monaco. CFM Indosuez, the group's long-established Monegasque entity, has struck a deal to take over BNP Paribas' Wealth Management client base in the Principality. The move will bolster Indosuez's already strong presence in the local market, where company has been operating since 1922. In addition to acquiring the clients, Indosuez will form a strategic collaboration with BNP Paribas to provide long-term support to the latter's Wealth Management clients in Monaco. The transaction, subject to regulatory approval, is likely to close in the first half of 2026. Moreover, the acquisition forms part of Indosuez's wider strategy to strengthen its presence among ultra-high net worth (UHNW) clients in Europe, particularly in a sector seeing increasing consolidation. Jacques Prost, Chief Executive Officer of Indosuez Wealth Management stated: 'This acquisition would strengthen our position in Monaco with ultra-high net worth clients (UHNW). Indosuez is pursuing its growth strategy in a sector undergoing consolidation and is a major player in wealth management in Europe.' For BNP Paribas clients in Monaco, the transition means continuity and improved services. CFM Indosuez will provide them with access to a wide range of banking and advising services. These include corporate finance, fund servicing and management, as well as global financing capabilities supported by Crédit Agricole. Mathieu Ferragut, CEO of CFM Indosuez Wealth Management and Deputy CEO of Indosuez Wealth Management added: 'We are delighted to welcome the Wealth Management clients of BNP Paribas Group's Monaco subsidiary. This strengthens our position as Monaco's leading bank and number one employer. We will work together to make this acquisition a success for both clients and employees.' BNP Paribas has defined the arrangement as part of a strategic restructuring of its Monaco business, with the goal of focusing on a single platform. While the group will leave the Wealth Management sector in the Principality, it will maintain a local presence through corporate, private, and retail banking services. Françoise Puzenat, Head of Monaco at BNP Paribas shared: 'We are delighted with the agreement reached with CFM Indosuez, a recognised player in the market and with all the assets needed to ensure the best possible continuity of service for our clients and the employees who join them. The sale of the Wealth Management business in Monaco is part of our strategic decision to refocus our local activities on a single platform. BNP Paribas will continue to develop its domestic commercial banking business line in Monaco, which includes corporate banking, private banking and retail banking.' The financial impact of the deal on Crédit Agricole S.A.'s Common Equity Tier 1 (CET1) capital ratio is expected to be minimal. "Indosuez gains BNP Paribas wealth management clients in Monaco" was originally created and published by Private Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Scoop
6 days ago
- Business
- Scoop
Three Major French Investors Reject Deep Sea Mining
Three major French financial institutions, including two of the country's largest banks and the state's public investment arm, have announced their rejection of deep sea mining during the United Nations Ocean Conference (UNOC) last week in Nice. The three institutions are: BNP Paribas - France's largest and Europe's second largest bank. BNP Paribas confirms it does not invest in deep sea mining projects due to the intrinsic environmental and social risks involved. Crédit Agricole - The second largest bank in France and the world's largest cooperative financial institution. Crédit Agricole stated it will not finance deep sea mining projects until it has been proven that such operations pose no significant harm to marine ecosystems. Groupe Caisse des Dépôts - The public investment arm of the French Government, which also holds a majority stake in La Banque Postale. The Group has pledged to exclude all financing and investment in companies whose main activity is deep sea mining, as well as in deep sea mining projects. Amundi Asset Management also made a statement that it seeks to avoid investment in companies 'involved in deep sea mining and/or exploration'. This now brings to 24 the number of financial institutions who exclude deep sea mining in some form. Deep Sea Mining Campaign Finance Advocacy Officer Andy Whitmore says: 'This is a truly significant outcome from UNOC. Until recently no French financiers had matched their Government's position calling for a ban. This UN Ocean Conference, co-hosted by France, was the perfect opportunity for the most important national players to step up and be counted' These financial announcements are a sign of global concern pushing itself on to the agenda. World leaders renewed calls for a global moratorium on the dangerous industry, with French President Emmanuel Macron denouncing it as 'madness', with UN Secretary-General António Guterres responding to recent announcements from President Trump by warning that the deep sea 'cannot become the Wild West.' Slovenia, Latvia, Cyprus and the Marshall Islands also announced their support for a moratorium or precautionary pause, bringing the number of like-minded countries to 37. Andy Whitmore concluded 'the events at UNOC have added further momentum to the financial establishment rejecting deep sea mining. The recent unseemly rush to mine is creating push-back from the financial world, as much as from governments and civil society.'
Scoop
18-06-2025
- Business
- Scoop
PNG Reaffirms Ban As Opposition To Deep Sea Mining Gains Traction
Feature - Global efforts to halt deep sea mining are gaining momentum, with major French financial institutions recently joining the call for a moratorium and Papua New Guinea reaffirming its stance against such operations in its national waters. In a significant development, three major French financial institutions, including two of the country's largest banks and the state's public investment arm, announced their rejection of deep sea mining during the United Nations Ocean Conference (UNOC) held last week in Nice, France. BNP Paribas, France's largest and Europe's second-largest bank, confirmed it would not invest in deep-sea mining projects due to the inherent environmental and social risks. On the 6 June, Crédit Agricole, the second-largest bank in France, said it would not finance deep sea mining projects until it is proven that such operations pose no significant harm to marine ecosystems. Groupe Caisse des Dépôts, the public investment arm of the French Government, pledged to exclude all financing and investment in companies whose main activity is deep-sea mining, as well as in deep sea mining projects. Amundi Asset Management also stated its aim to avoid investment in companies "involved in deep sea mining and/or exploration". These announcements bring the total number of financial institutions excluding deep sea mining in some form to 24. Crédit Agricole's chief sustainability and impact officer Eric Campos articulated the bank's position in a statement. "There can be no sustainable blue growth if it is to the detriment of the integrity of seafloor that is currently unexplored. Against a backdrop of climate and ecological emergency, Crédit Agricole undertakes not to finance deep sea mining projects." Deep Sea Mining Campaign's finance advocacy officer Andy Whitmore said the recent announcements were crucial. "This is a truly significant outcome from UNOC," Whitemore said. "Until recently no French financiers had matched their government's position calling for a ban. This UN Ocean Conference, co-hosted by France, was the perfect opportunity for the most important national players to step up and be counted." These financial decisions align with growing global concern, with 37 states now calling for a moratorium, precautionary pause, or ban on deep-sea mining. French President Emmanuel Macron has denounced the industry as "madness," and UN Secretary-General António Guterres has warned that the deep sea "cannot become the Wild West". Papua New Guinea has reaffirmed its strong opposition to deep sea mining within its national waters. Prime Minister James Marape recently announced in France that his government would stop deep sea mining operations in the absence of robust scientific evidence and proper environmental safeguards. This stance comes amid increasing national and international concerns regarding the New Ireland Provincial Government's (NIPG) decision to support the NIU Solwara 1 Deep Sea Mining Project. Civil society organisations in PNG have urged the NIPG to learn from past mistakes. In 2019, Nautilus Minerals, the previous holder of the Solwara 1 license, filed for bankruptcy in a Canadian court, leading to substantial financial losses for PNG. Reports indicated over $120 million of government funds were "sunk into the ocean," while Marape described the agreement with Nautilus as "a deal that should not have happened". Papua New Guinean coastal communities have long voiced apprehension about government intentions to introduce seabed mining projects. For generations, these communities have relied heavily on the sea for their sustenance and way of life, and any threat to marine ecosystems directly impacts their economic backbone and cultural practices. Alliance of Solwara Warriors co-founder Jonathan Mesulam stressed the importance of community consultation for any deep sea mining plans. "The people of New Ireland must be consulted to ensure that there is free, prior and informed consent before the governor and his administration plans to favour deep sea mining," Mesulam said. He added that dismissing opposition as "fear mongering and unqualified individuals" hinders respectful discussions based on scientific facts, legal requirements, and the desires of the people for their livelihoods and ocean life. Civil society organisations are advocating for a transparent Free, Prior, and Informed Consent (FPIC) process, consistent with PNG Supreme Court decisions that require project proponents to obtain landowners' "free and informed consent and approval, and ultimately, their social license to operate". Civil society organisations are asserting that PNG's government's commitment to moratoriums should be upheld. In 2019, Marape issued a moratorium on deep sea mining in PNG waters, stating it would remain until further evidence suggested otherwise. This resolution aligns with the positions of other Pacific nations. In 2023, PNG endorsed the Udaune Declaration of the Melanesian Spearhead Group (MSG), which called for a moratorium on deep-sea mining in Melanesia. Concerns also extend to procedural and legal issues surrounding the Niu Solwara 1 project, including the need for an Environmental Impact Statement with stakeholder input, and questions about the legality of the license transfer from Nautilus Minerals to Niu Solwara. Center for Environmental Law and Community Rights PNG executive director Peter Bosip stressed the need for government action. "The Marape-Rosso government must revisit existing policies, including the Mining Act, which is under review, address outstanding legal issues related to the Niu Solwara 1 project, and ensure that offshore mining activities in PNG waters align with national, regional and international commitments of ocean protection," Bosip said. Communities across the Pacific are expressing solidarity with those in New Ireland, Duke of York, and neighbouring areas to condemn the NIPG's decision. Marine ecosystems are not only central to cultural practices but also form the economic foundation of local communities. Civil society organisations argue there are no social, economic, or environmental justifications for authorising deep sea mining in PNG waters and that the NIU Solwara 1 project must be rejected. The collective of civil society organisations is calling on the Marape-Rosso government to formally acknowledge the MSG Udaune Declaration, ensure wide consultation during the review of the Mining Act 2025's offshore policy and engage civil society, and cancel all existing exploration and mining licenses, with no further issuing or transfers in the absence of proper legislation and policy. They also advocate for an independent inquiry into the Nautilus Minerals Solwara 1 project, with all financial and environmental impact reports made public, and for PNG to support a global moratorium on deep sea mining in areas beyond national jurisdiction.
RNZ News
18-06-2025
- Business
- RNZ News
PNG reaffirms ban as opposition to deep sea mining gains traction
Marine ecosystems are not only central to cultural practices but also form the economic foundation of local communities. Photo: Supplied Feature - Global efforts to halt deep sea mining are gaining momentum, with major French financial institutions recently joining the call for a moratorium and Papua New Guinea reaffirming its stance against such operations in its national waters. In a significant development, three major French financial institutions, including two of the country's largest banks and the state's public investment arm, announced their rejection of deep sea mining during the United Nations Ocean Conference (UNOC) held last week in Nice, France. BNP Paribas, France's largest and Europe's second-largest bank, confirmed it would not invest in deep-sea mining projects due to the inherent environmental and social risks. On the 6 June, Crédit Agricole, the second-largest bank in France, said it would not finance deep sea mining projects until it is proven that such operations pose no significant harm to marine ecosystems. Groupe Caisse des Dépôts, the public investment arm of the French Government, pledged to exclude all financing and investment in companies whose main activity is deep-sea mining, as well as in deep sea mining projects. Amundi Asset Management also stated its aim to avoid investment in companies "involved in deep sea mining and/or exploration". These announcements bring the total number of financial institutions excluding deep sea mining in some form to 24. Crédit Agricole's chief sustainability and impact officer Eric Campos articulated the bank's position in a statement. "There can be no sustainable blue growth if it is to the detriment of the integrity of seafloor that is currently unexplored. Against a backdrop of climate and ecological emergency, Crédit Agricole undertakes not to finance deep sea mining projects." Deep Sea Mining Campaign's finance advocacy officer Andy Whitmore said the recent announcements were crucial. "This is a truly significant outcome from UNOC," Whitemore said. "Until recently no French financiers had matched their government's position calling for a ban. This UN Ocean Conference, co-hosted by France, was the perfect opportunity for the most important national players to step up and be counted." These financial decisions align with growing global concern, with 37 states now calling for a moratorium, precautionary pause, or ban on deep-sea mining. French President Emmanuel Macron has denounced the industry as "madness," and UN Secretary-General António Guterres has warned that the deep sea "cannot become the Wild West". Papua New Guinea has reaffirmed its strong opposition to deep sea mining within its national waters. Prime Minister James Marape recently announced in France that his government would stop deep sea mining operations in the absence of robust scientific evidence and proper environmental safeguards. This stance comes amid increasing national and international concerns regarding the New Ireland Provincial Government's (NIPG) decision to support the NIU Solwara 1 Deep Sea Mining Project. Civil society organisations in PNG have urged the NIPG to learn from past mistakes. In 2019, Nautilus Minerals, the previous holder of the Solwara 1 license, filed for bankruptcy in a Canadian court, leading to substantial financial losses for PNG. Papua New Guinean coastal communities have long voiced apprehension about government intentions to introduce seabed mining projects. Photo: Supplied Reports indicated over $120 million of government funds were "sunk into the ocean," while Marape described the agreement with Nautilus as "a deal that should not have happened". Papua New Guinean coastal communities have long voiced apprehension about government intentions to introduce seabed mining projects. For generations, these communities have relied heavily on the sea for their sustenance and way of life, and any threat to marine ecosystems directly impacts their economic backbone and cultural practices. Alliance of Solwara Warriors co-founder Jonathan Mesulam stressed the importance of community consultation for any deep sea mining plans. "The people of New Ireland must be consulted to ensure that there is free, prior and informed consent before the governor and his administration plans to favour deep sea mining," Mesulam said. He added that dismissing opposition as "fear mongering and unqualified individuals" hinders respectful discussions based on scientific facts, legal requirements, and the desires of the people for their livelihoods and ocean life. Civil society organisations are advocating for a transparent Free, Prior, and Informed Consent (FPIC) process, consistent with PNG Supreme Court decisions that require project proponents to obtain landowners' "free and informed consent and approval, and ultimately, their social license to operate". Civil society organisations are asserting that PNG's government's commitment to moratoriums should be upheld. Jonathan Mesulam, co-founder of the Alliance of Solwara Warriors, stressed the importance of community consultation for any deep-sea mining plans. Photo: Supplied In 2019, Marape issued a moratorium on deep sea mining in PNG waters, stating it would remain until further evidence suggested otherwise. This resolution aligns with the positions of other Pacific nations. In 2023, PNG endorsed the Udaune Declaration of the Melanesian Spearhead Group (MSG), which called for a moratorium on deep-sea mining in Melanesia. Concerns also extend to procedural and legal issues surrounding the Niu Solwara 1 project, including the need for an Environmental Impact Statement with stakeholder input, and questions about the legality of the license transfer from Nautilus Minerals to Niu Solwara. Center for Environmental Law and Community Rights PNG executive director Peter Bosip stressed the need for government action. "The Marape-Rosso government must revisit existing policies, including the Mining Act, which is under review, address outstanding legal issues related to the Niu Solwara 1 project, and ensure that offshore mining activities in PNG waters align with national, regional and international commitments of ocean protection," Bosip said. Communities across the Pacific are expressing solidarity with those in New Ireland, Duke of York, and neighbouring areas to condemn the NIPG's decision. Communities across the Pacific are expressing solidarity. Photo: Supplied Marine ecosystems are not only central to cultural practices but also form the economic foundation of local communities. Civil society organisations argue there are no social, economic, or environmental justifications for authorising deep sea mining in PNG waters and that the NIU Solwara 1 project must be rejected. The collective of civil society organisations is calling on the Marape-Rosso government to formally acknowledge the MSG Udaune Declaration, ensure wide consultation during the review of the Mining Act 2025's offshore policy and engage civil society, and cancel all existing exploration and mining licenses, with no further issuing or transfers in the absence of proper legislation and policy. They also advocate for an independent inquiry into the Nautilus Minerals Solwara 1 project, with all financial and environmental impact reports made public, and for PNG to support a global moratorium on deep sea mining in areas beyond national jurisdiction.
Yahoo
16-06-2025
- Business
- Yahoo
Aviation Capital Group Closes $1 Billion Delayed Draw Secured Term Loan
NEWPORT BEACH, Calif., June 16, 2025--(BUSINESS WIRE)--Aviation Capital Group LLC ("ACG") announced today the closing of a $1 billion delayed draw secured credit facility entered into with a syndicate of lenders and maturing in June 2027. Crédit Agricole Corporate & Investment Bank acted as Structuring Agent, Lead Arranger, Bookrunner and Administrative Agent. Bank of China, Los Angeles Branch, BNP Paribas, Société Générale and Truist Bank joined as Joint Lead Arrangers. "We are excited to announce the closing of this facility and appreciate the continued support from the syndicate of lenders," said Eric Blau, Senior Vice President, Head of Capital Markets and Treasurer of ACG. "This facility diversifies our funding sources and provides attractive financing for our growth initiatives." About Aviation Capital Group Aviation Capital Group is one of the world's premier full-service aircraft asset managers with approximately 500 owned, managed and committed aircraft as of March 31, 2025, leased to roughly 80 airlines in approximately 45 countries. It specializes in commercial aircraft leasing and provides certain aircraft asset management services and aircraft financing solutions for third parties. It was founded in 1989 and is a wholly owned subsidiary of Tokyo Century Corporation. Follow ACG on LinkedIn, and for more information, visit View source version on Contacts Media RelationsMediaRelations@ Investor RelationsInvestorRelations@
