The Flemish wealth management firm Truncus is merging with fellow East Flanders-based Investor AM, marking another step in the consolidation of Belgium’s wealth management sector.
The merged group aims to grow into a player managing at least 1 billion euros in client assets. Currently, Truncus manages around 450 million euros.
Investor AM was founded in 2008 by Bruno Toye and Jan Vantomme, both former fund managers at Petercam and Puilaetco Dewaay. The pair will become shareholders in Truncus as part of the deal, which is still pending regulatory approval and is expected to close later this year.
The merger comes amid a wave of consolidation in Belgium’s private banking industry, driven by generational wealth transfers and increasing competition. According to De Tijd, the country’s top wealth managers oversaw more than 500 billion euros in assets last year—a number expected to rise in the coming years.
