Approval of the new brand Degroof Petercam Spain by the Central Bank of Spain and the European Regulators

Bank Degroof Petercam Spain is the new brand under which the leading independent financial institution of Belgium will now be active in Spain, following the approval of the new name by Spain’s Central Bank. The go-ahead has been given following approval by the European Regulators of the merger between the parent companies of Bank Degroof and Petercam in Belgium last October. The asset management company for private funds, PrivatBank Patrimonio, will henceforth be called Degroof Petercam SGIIC.

The Degroof Petercam group, is active as a boutique specialized in private banking, institutional asset management, investment banking (corporate finance and financial intermediation) and asset services. It has been present in Spain since 1990, through PrivatBank, which was acquired by Bank Degroof in 2000. Bank Degroof Petercam Spain has a team of more than 60 professionals, located in different cities: Barcelona, Bilbao, Madrid and Valencia.


With a history dating back to 1871, Bank Degroof Petercam employs over 1,400 seasoned professionals in nine countries: Belgium, Luxembourg, France, Spain, Switzerland, the Netherlands, Germany, Italy and Hong Kong.


The founding families and reference shareholders of Degroof Petercam hold more than
70 % of the equity shareholders (the Philippson, Peterbroeck, Van Campenhout, Haegelsteen, Schockert and Siaens families and CLdN Finance and Cobepa). The remainder is owned by the management and the staff, the financial partners and the other shareholders. The group which is headquartered in Brussels, manages over EUR 50 billion of assets on behalf of private investors, families, companies, public and corporate pension funds, insurance companies and government and not-for-profit organizations.
The solvency ratio of Bank Degroof Petercam far exceeds the sectoral requirements. The results of ECB’s assessment (ACR and Stress test) last November confirm the quality of the group’s assets and its capacity to withstand major crisis scenarios in the financial markets.

Philippe Masset, CEO Bank Degroof Petercam:
“This pooling of our forces following the merger gives our customers the best of two leading companies in the field of specialized investment services and high value-added expertise. In addition to our offices in Belgium, our group also has a strong international presence, and we have the ambition to continue to develop in Spain”.

Guillermo Viladormiu, CEO of Bank Degroof Petercam Spain: “We are delighted to be able to offer more services to our clients under this new brand, within a group which is well-equipped to meet the technological challenges and regulations of the future. We intend to continue with our growth ambitions in Spain, while maintaining our personal approach towards our clients and our tailor-made solutions which have always been our strength.”

Alexandra Niehe

Head of corporate communications

Thomas Van Rompuy

Senior Executive Advisor - media relations, economics, Bank Degroof Petercam

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About Degroof Petercam

Founded in 1871, Degroof Petercam is a Belgian-rooted reference investment house built on more than 150 years of integrated financial knowledge. Private and institutional investors, as well as corporates trust us for our strong investment convictions and for our continuum of services in private banking, asset management, investment banking and fund servicing.

On December 31, 2023, total assets amounted to 74 billion euros. More than 1,500 experts are committed to our clients through offices in Belgium, Luxembourg, France, Switzerland, Spain, the Netherlands, Germany, Italy, Hong Kong and Canada. As employer and investor, we create responsible prosperity for all by opening doors to opportunities and accompanying our clients with expertise.

Degroof Petercam is owned by Indosuez Wealth Management and by its historical minority shareholder CLdN Cobelfret. Degroof Petercam benefits from the vast expertise and international network of Indosuez and the Crédit Agricole group, the world's 9th largest bank (The Banker, 2024).
 

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