Société Générale is reportedly searching for a buyer for its UK private banking business, Kleinwort Hambros, thewealthnet can reveal.

People familiar with the matter said Société Générale (SocGen) had been in talks with the owner of at least one mid-sized UK private bank but has so far been unable to agree terms. SocGen has reportedly engaged Rothschild & Co to advise on the potential sale.

One source told thewealthnet there had been “several interested buyers”.

Kleinwort Hambros declined to comment on what a spokesperson deemed “market speculation”.

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