History
Crèdit Andorrà was founded in 1949 as a financial institution devoted to universal banking. It has spent over 60 years dedicated to commercial banking, private banking and asset management, which has consolidated us as a global financial group with a major expansion plan.
Below are some of the milestones that have marked our history.
We first set up as a financial entity that offered universal banking services in Andorra.
The Fundació Crèdit Andorrà was founded. It is a foundation that endeavours to promote ties with our local community and to secure the community’s trust in our future projects.
Credit Andorra Asset Management was incorporated. As an asset management company, it creates investment vehicles in both fixed income and equity markets.
Crèdit Assegurances, the parent company of our insurance group began business by selling life insurance through Crèdit Andorrà's network of branches.
The Crèdit Andorrà Group began its process of internationalisation by opening the wealth management company Private Investment Management in Geneva (Switzerland).
The actuarial and financial consultants Vincles was created. It also designs, implements and manages employee benefit schemes.
Crediinvest Sicav, an open-ended collective investment scheme, opened in Luxembourg.
Acquisition of the financial institution CaixaBank and its merger with Crèdit Andorrà.
Valira Capital Asset Management SGIIC, a UCITS operator was set up in Madrid (Spain), operational until 2015.
The first step of our expansion plan in Latin America was completed following the incorporation of the Banco Crèdit Andorrà (Panamá).
Our representative office in Montevideo (Uruguay) was opened, where it stayed until 2017.
A new open-ended collective investment scheme, Investcredit Sicav, was created in Luxembourg that enabled us to embark on the institutional trading of our investment funds in European and international markets.
ERM joined the Crèdit Andorrà Group following the acquisition of 76% of its shareholding. ERM Consultoría specialises in risk management, actuarial consultancy and employees benefit schemes, whilst ERM Correduría gives advice on and designs insurance schemes.
Opening of CA México Asesores Patrimoniales to provide wealth management services in the local market.
Acquisition of the Banque de Patrimoines Privés SA in Luxembourg.
Acquisition of 85% of the Banco Alcalá SA in Spain, a bank with branches in Madrid and Barcelona that deals in global wealth management. Following a capital increase in 2103, its shareholding was split between Crèdit Andorrà (72.25%), the Argüelles family who founded the bank (12.75%), the Riva y García Financial Group (10%) and the Ros family (5%).
Acquisition of 80% of Beta Capital Management LP in Miami (USA). Following this operation, Crèdit Andorrà became the first Andorran financial institution to be awarded a broker dealer licence in the United States. Since 2015 it has operated as a wealth management firm under the new name Beta Capital Wealth Management.
Acquisition of 70% of Valores Casa de Bolsa SA in Paraguay with headquarters in Asunción, where it stayed until 2015.
CA Life Insurance Experts, which specialises in life insurance and savings plans, was set up in Madrid (headquarters) and Barcelona.
Acquisition of 9.9% of Société Genevoise d'Investissements, headquartered in Geneva (Switzerland).
CA Vincles Actuarial Consulting starts up business in Chile.
Acquisition of the Asefa Seguros life insurance portfolio by CA Life Insurance Experts.
Opening of the investment fund manager Crèdit Andorrà Asset Management Luxembourg SA.
Opening of the branch of Banque de Patrimoines Privés in Lisbon, where it stayed until 2018
Crèdit Andorrà Group becomes established in Valencia through Banco Alcalá, its private banking subsidiary in Spain
The holding companies ERM, which belongs to the Crèdit Andorrà Group, and RMS have formalised a merger between the brokering and consulting businesses to create a new holding company, ERSM Insurance Brokers. The new group, 51% owned by ERM and 49% by RSM, has become the leader in the Spanish market of private insurance brokers.
