The transaction has received the necessary approvals from the banking and competition authorities
Indosuez Wealth Management, subsidiary of Crédit Agricole S.A., completes the acquisition of Degroof Petercam, of which it becomes the majority shareholder alongside historical reference shareholder CLdN Cobelfret
The transaction enables Degroof Petercam to join forces with Indosuez Wealth Management and together form a European leader in asset management.
Crédit Agricole thus strengthens its presence in Belgium and creates significant synergies with the Group's various business lines. The acquisition of Degroof Petercam will, after synergies, result in an additional contribution to the net result part of the Indosuez Wealth Management group of 150 to 200 million euros by 2028.
The alliance is one of the most important transactions of the past decade in the European banking sector. Indosuez Wealth Management, which has been supporting its clients for more than 150 years, is now present in 16 regions, mainly in Europe, but also in Asia-Pacific and the Middle East. With approximately 200 billion euros in client assets, net revenues of almost 1.6 billion euros and 4,500 employees, a new European leader in asset management is emerging.
Products and services
Clients of Indosuez Wealth Management now benefit from a more extensive offering that combines the expertise of both houses:
- The advice to entrepreneurs, the investment advice, the fund range (including ESG), and the Fund servicing services of Degroof Petercam;
- The extensive range of services of structured products, private equity, real estate and Indosuez's international network;
- The offer and continuum of services includes Advisory, Financing, Investment solutions, Fund servicing and Technological & banking solutions, as well as access to the international network, expertise and financing capacity of the Crédit Agricole group.
The sustainable investment offering has been expanded to meet growing client demand across all asset classes, management methods (advisory, discretionary) and financing activities.
'European leader in asset management'
“I am pleased to welcome the teams and know-how of Degroof Petercam to our Group", says Jacques Prost, CEO Group Indosuez. "This acquisition is an exciting project. It sets in motion a transformation that allows us to operate in a different category as the new European leader in asset management. Our range of solutions is expanding, making our offering for wealthy individuals, families, entrepreneurs and professional investors one of the most complete on the market. It also provides significant synergies with other business lines of the Crédit Agricole Group. This alliance becomes a reality today and will motivate all teams in all regions to join forces, shape the new entity and write a new chapter in our shared history!”
“With the combined expertise of both entities, the powerful network and the significant financing capacity of Indosuez Wealth Management, we can now go much further in supporting our clients", says Hugo Lasat, CEO Degroof Petercam. "Indosuez will build on the expertise and teams of Degroof Petercam and DPAM. We are proud of the journey we have taken together, with the support of our historic shareholders and with the help of our committed employees, whom I thank for their efforts. This alliance creates great prospects and opportunities for both our clients and our employees.”
