Degroof Petercam

Cobepa entered Bank Degroof’s capital in 2009 through a consortium of shareholders, which alongside Cobepa and its 15.6% stake, includes Guimard Finance, DLdN Finances and the Philippson, Peterbroeck, Van Campenhout, Siaens, Schockert and Haegelsteen families.  

The bank consolidated its French operations uniting Banque Degroof France, Aforge Degroof Family Office and Aforge Degroof Finance under Compagnie Financère Degroof. This move unified its activities in Paris, Lyon, Lille, and other cities, establishing a stronger foothold in France. The expansion reflected a deliberate strategy to compete in a key European market and further extend the bank’s reach.

Cobepa accompanied the bank in the landmark merger that redefined Belgian private banking. Bank Degroof and Petercam joined forces, combining complementary expertise and assets exceeding €50 billion. This merger established Degroof Petercam as a benchmark in private banking, institutional asset management, and investment banking.

Degroof Petercam’s achievements did not go unnoticed. The bank was named “Best Private Bank in Belgium” by Euromoney for two consecutive years in 2016 and 2017. These accolades underscored its commitment to excellence and innovation in financial services.

The bank’s sustainability journey can be traced back to 2001, but it made great strides in 2018 when it formalized its sustainability framework, embedding ESG factors in its investment strategies and financial services. It published its first non-financial report in 2019. In 2021, it aligned with the EU SFDR (Sustainable Finance Disclosure Regulation) classifying its financial products in Article 8, Article 8+ and Article 9 funds¹. Under the management of DPAM (Degroof Petercam Asset Management), funds classified as Article 8+ and Article 9 grew significantly, rising from 40% of assets under management in 2021 to 57% in 2023.

The pandemic brought challenges that tested businesses worldwide, but for Degroof Petercam “it turned out to be a successful stress test for the group”, as described by then-CEO Bruno Colmant in its 2020 Annual Report. The bank's diversified business model and prudent risk management strategies enabled it to navigate the uncertainties of the pandemic effectively.

In 2021, Degroof Petercam celebrated its 150th anniversary, a testament to its longevity and resilience in an evolving financial landscape. Over a century and a half, the institution grew from a small private bank to a leading financial services provider with 4 business units: Private Banking, Asset Management, Investment Banking and Asset Services. 

This milestone coincided with a leadership transition, as Hugo Lasat was appointed CEO of Degroof Petercam, succeeding Bruno Colmant. Additionally, Peter De Coensel took the helm of its asset management arm, DPAM. Together, they brought fresh perspectives and a renewed focus on maintaining the bank’s competitive edge.

The partnership between Cobepa and Degroof Petercam concluded with the sale of the bank to Indosuez Wealth Management in 2024. This transaction marked the end of a transformative era and the beginning of a new chapter for Degroof Petercam as the combination of the two would create a pan-European leader in wealth management, benefiting from global growth drivers and positioning itself as a consolidator of the sector in Europe.