Degroof Petercam completes sale of Spanish subsidiary

Thursday, February 25, 2021 - Andbank España S.A.U. (“Andbank España”) and Bank Degroof Petercam SA (“Degroof Petercam”) have closed the previously announced transaction related to the acquisition of Bank Degroof Petercam Spain S.A.U., a wholly owned subsidiary of Degroof Petercam, by Andbank España.

The institutional asset management activities of Degroof Petercam Asset Management SA’s Spanish branch based in Madrid are not part of the transaction and will remain as currently operated.

25 02 2021 Andbank completes acquisition of Degroof Petercam Spain.pdf

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About Andbank España

Andbank España is a bank specialized in private banking and comprehensive wealth management. With 13.065 billion euros under management, has a network of bankers and specialists with wide experience in wealth advisory and management.One of Andbank España's main focus areas is its CSR activity, which is aimed at supporting different initiatives that contribute to creating a better society. Andbank España collaborates with several organizations such as Cris Contra el Cancer, Fero (Foundation for Oncological Research) and the Pediatric Cancer Center in Sant Joan de Déu with the aim of contributing and helping to raise funds for the fight against cancer. Furthermore, Andbank Wealth Management is a signatory of the United Nations Principles for Responsible Investment (PRI).

Arnaud Denis

External Communication, Degroof Petercam

 

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Arnaud Denis

External Communication, Degroof Petercam

Alexandra Niehe

Head of corporate communications, 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. As responsible employer and investor, we contribute to sustainable growth. Private clients and families, entrepreneurs, corporations, professional investors and institutions trust us for our strong convictions and our continuum of services in wealth management, investment management and investment banking.

On December 31, 2024, total client assets amounted to € 64 billion. More than 1 000 experts are committed to our clients from our headquarters in Belgium and our branches in France, Germany, Italy, Luxembourg, Switzerland, Spain, the Netherlands and Hong Kong. 

Degroof Petercam is owned by Indosuez Wealth Management and by its historical minority shareholder CLdN Cobelfret. Our clients and experts benefit from the vast expertise and international network of Indosuez and the Crédit Agricole group, the world's 9th largest bank (The Banker, 2024). With approximately € 215 billion in client assets, more than 4 000 staff members active in 16 territories, Indosuez is one of the European leaders in wealth management.

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