Indosuez Wealth Management, a subsidiary of Crédit Agricole S.A., has completed the acquisition of Degroof Petercam, Belgium’s largest private investment bank. This acquisition establishes Indosuez Wealth Management as the majority shareholder alongside CLdN Cobelfret, Degroof Petercam’s long-standing shareholder.
The transaction received the necessary approvals from banking and competition authorities, enabling Degroof Petercam to join forces with Indosuez Wealth Management. This merger strengthens Crédit Agricole’s presence in Belgium and creates significant synergies across its various business lines.
This acquisition stands out as one of the most significant transactions in the industry in Europe over the past decade. Indosuez Wealth Management, with over 150 years of experience, now operates in 16 territories, primarily in Europe, but also in Asia Pacific and the Middle East. The new group will manage approximately 200 billion euros in client assets, generate nearly 1.6 billion euros in net banking income, and employ 4,500 people, positioning itself as a European leader in wealth management.
Clients of Indosuez Wealth Management will benefit from an enhanced value proposition, leveraging the complementary expertise of both entities. Degroof Petercam offers advisory services to entrepreneurs, investment advice, and fund offerings, particularly in Environmental and Social Governance (ESG), along with fund servicing capabilities. These will be integrated with Indosuez’s extensive services, including structured products, private equity, real estate, financing capacity, and its international network.
This comprehensive value proposition includes advisory services, financing, investment solutions, fund servicing, technology, and banking solutions, as well as access to Crédit Agricole Group’s international network, expertise, and financing capabilities.
With the acquisition, CA Indosuez now holds 65 percent of Bank Degroof Petercam’s capital, while CLdN Cobelfret retains nearly 20 percent.
“I am delighted to welcome Degroof Petercam’s teams and extensive expertise to our Group today. This acquisition is a transformative and exciting project that reshapes our scope and establishes a European leader in wealth management,” said Jacques Prost, Chief Executive Officer of Indosuez group, which includes the Monaco-based CFM Indosuez Wealth Management branch.