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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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 74.3 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 its clients with expertise.

Owned by CLdN Cobelfret (20%) and Indosuez Wealth Management (65%), Degroof Petercam benefits from the vast expertise and action scope of the international network of Indosuez Wealth Management and the Crédit Agricole group, the world's 10th largest bank.
Degroof Petercam
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