SG Private Banking, the wealth management arm of the Société Générale Group, plans to establish its presence in Canada following an agreement to acquire 100% of Canadian Wealth Management (CWM Group Inc.).

The acquisition, subject to regulatory approval, is expected to be completed in January 2008.

Having been established in Calgary for many years, CWM Group Inc. enjoys a solid reputation in its market and manages around $650 million. Its wealth management business, which is built around highly personalized client consultation, will benefit from SG Private Banking’s international expertise, particularly in structured products and alternative investments, allowing it to significantly expand its services offering and meet the increasingly sophisticated demands of its clients.

This acquisition reflects SG Private Banking’s ambitions to further its international expansion. More broadly, it will strengthen Société Générale Group’s business in Canada, where it is already present through its corporate and investment banking activities.

Paul Boeda, founder and CEO of CWM Group Inc., will continue to develop the local wealth management activities of the business.

Paris-based Société Générale is one of the largest financial services groups in the euro-zone. The Group employs 120,000 people worldwide in three key businesses: retail banking & financial services; global investment management & services; and corporate & investment banking.

SG Private Banking had 75.5 billion euros ($110.37 billion) in assets under management as at September 30.