New logo, new legal status, new acquisition... The Oddo group has completed a year 2005 rich in e ents. It is a inancial company since September, and not an in estment irm. This status more restricti e that the credit institution enables it to grant loans to its customers, guaranteed, or example, by their account credentials. Assistance and support or the pri ate bank. This trans ormation is per ormed once absorbed Pinatton, N MDA and Cyril inance. With the latter, the Group strengthens its position on the management o assets, a major contributor to its good results in 2005. Net banking product o the group progresses rom 34 to EUR 220 million, while its consolidated net income jumps 47 to EUR 50 million. Asset management has seen its stock go rom 13 to 17 billion euros one year on year.
The Group has collected more than 2 billion euros in 2005, while the purchase o Cyril inance brought 1.5 billion euros o assets to Oddo. The unds that ha e the most collected ha e been products o dynamic cash destined or businesses, structured products, unds on small and medium-sized companies and con ertible bonds, one o the historic Cyril inance expertise.
The Group at the same time strengthened in the capital o an insurance company owned jointly with the AG , namely generation li e, by increasing the participation o 20 to 35. Goal Building on li e insurance products, placement etish o the rench, and especially that the Group has relied historically on inancial in estment ad isors.
In early 2006, the group will create a subsidiary o alternati e management, the role will be to take interests in the capital o und o arbitration. Success ul, this strategy o "money seeds" could e ol e in a second time, the rising group o customers who are interested to in est in alternati e management capital. I asset management contributed to the re enue o the group, its acti ities ha e not been outdone: account-conser ation held, a trade on which the Group wants to in est, has won a big contract this year. Dresdner management pri ate, subsidiary o the AG , thus entrusted Oddo 1 billion euros o assets under management in this acti ity.
Intermediation on shares saw it, its re enues grow 32, and continued its de elopment on British and American audiences, while the research won a signi icant number o awards in the rankings. There is little a discrete acti ity and marginal, the In estment Bank rises. Its specialties amily businesses and holding such issues. This acti ity should re enues increase by almost hal in 2005.
Increase work orce
The Group acted as counsel on issues in ol ing small and medium-sized rench companies: redemption o Altitude Telecom by Iliad, resumed LBO o Cama´eu by AXA Pri ate Equity, restructuring o the ownership o Unibel, Osiatis rapprochement and the ocal group...
All these good results were achie ed with numbers increased by more than 100 people to 694 people, less than hal rom Cyril inance. Employees shareholders are passed at the same time o 185 to 270 people. Associated with the Oddo amily, they hold nearly three quarters o the capital, and the 27 AG . The Group wants term increase the share o employees in the capital, pledged its independence and the in ol ement o its employees. This is the credo o Philippe Oddo, partner-Manager o Oddo et Cie. It was in China a year ago, judge too soon and too risky to in est despite its attractions. Hong Kong is already more sense. But the United States, Britain and Europe which should monopolize the attention o the group in the immediate uture. rance, the group cannot exclude smaller acquisitions targeted inancial irms o entrepreneurial type.