A contract to collaborate with CLdN, one of its key shareholders, and to purchase the majority of Bank Degroof Petercam has been announced by Indosuez Wealth Management, a division of the Crédit Agricole group.
In keeping with the Crédit Agricole group’s partnership culture, the planned acquisition is being conducted out in alliance with the CLdN group, Degroof Petercam’s largest shareholder, which will retain a stake of 20%.
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This decision reflects the intention to maintain the company’s roots and presence in Belgium.
Due to the integrated knowledge, access to the global network, and financing capabilities of the Crédit Agricole group, this project will offer clients enhanced services.
Employees of Degroof Petercam would also have the chance to join a global organisation with more than 46 locations and a variety of specialties.
Additionally, this partnership would strengthen the common ideals of diversity, social commitment, and investment ethics.
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By GlobalDataThe Indosuez Wealth Management group will obtain access to a new customer base in Belgium and globally as a result of this arrangement.
In addition, it would leverage the expertise of the Degroof Petercam Asset Management (DPAM) company and investment banking activities to broaden its competence in financial management consulting and fund products, particularly ESG funds.
Jacques Prost, chief executive officer of Indosuez Wealth Management, said: “We are delighted to have reached this agreement with the shareholders of Degroof Petercam, a long-standing leader in wealth management. This proposed alliance will be an important step in our development in Europe, in line with our strategic plan, and will make Belgium our second domestic market.’’
Hugo Lasat, CEO of Degroof Petercam, also commented on the agreement: “The proposed alliance with Indosuez Wealth Management will provide us with a stable shareholder, backed by a leading global player. It is also a solid strategic partner who will support the Degroof Petercam brand and who knows our activities inside out. This project will enable us to benefit from the strength of an organisation such as the Indosuez Group, while retaining our agility and entrepreneurial spirit in the interests of our clients.”
