Press release - 3 January 2023
Wormser Frères bank, an independent family-owned private bank, announces its merger with the family-owned asset management company Finance SA, specializing in listed investments. This is Wormser Frères bank's first external growth operation, and represents a 20% increase in assets under management. This acquisition is in line with the Bank's strategy of doubling in size by 2027.
Founded in 1990 by Jean Delgorgue, and today managed by his son François, Finance SA, in addition to its shared family character, presents a listed investment management philosophy aligned with the vision of Wormser Frères bank, combining the preservation and enhancement of clients' assets with the pursuit of consistent performance over the long term. Finance SA brings together a team of 10 high-end asset management experts.
Accelerating the bank's development
With this merger of its asset management activities, Banque Wormser Frères is pursuing its ambitious development strategy based on a sustainable, agile structure:
A richer offering
For four generations, Wormser Frères bank has been developing tailor-made investment solutions for its customers, making the alignment of interests between customer and bank a core value of its offering. These unlisted investments will complement the offering for Finance SA customers.
The merger with Finance SA will strengthen Finance SA's listed discretionary asset management business and round out its offering in employee savings and pensions.
Marc Wormser, CEO of Wormser Frères bank, comments: “Wormser Frères bank and Finance SA share the same independent, family-run business model, which gives us the agility and strength we need to serve our customers. With this merger, the bank is accelerating its development in line with the values that unite us and that have ensured the durability of Wormser Frères bank since its creation, with top-of-the-range, personalized, forward-looking support. This transaction accelerates our growth dynamic, which could be accompanied by further acquisitions”.
François Delgorgue, CEO of Finance SA comments: “We are very enthusiastic about joining forces with Wormser Frères bank, an institution with which we share values and principles. This operation will enable us to go even further in offering tailor-made services to our customers”.
Nicolas Ibanez, Partner at Largillière Finance, adds: “We are delighted to have supported Wormser Frères bank and its management in this strategic operation, which will enable the bank to accelerate its development in asset management. We wish the joint teams every success in implementing the synergies envisaged.”
Stakeholders in the operation:
| Target Company: Finance SA (Normandie Finance) | François Delgorgue |
| Buyer or Investor: Wormser Frères Bank | Marc Wormser |
| Executive Sellers: | François Delgorgue , Jean Delgorgue |
| M&A Investment Bank Buyer: Largillière Finance | Nicolas Ibanez, Thibault Vandevyver |
| Buyer Corporate Lawyer: Simon Associés | Antoine Denis-Bertin , Alexandra Bouzerand |
| DD Financial Buyer: ACTHEOS | Charles-Antoine Genuyt |
With offices in Paris, Lyon, Nantes, Brussels and Geneva, Largillière Finance is an independent investment bank dedicated to assisting managers and shareholders of small and medium-sized companies with their capital transactions: company sales and acquisitions, financing (capital and/or debt), financial engineering (valuation, etc.) and financial strategy.
