Interest in private banking was high last year among Investment Officer’s Belgian readers. The overview of the ten most read articles of 2025 in Belgium shows that readers were primarily interested in people, organization and the strategic challenges facing the sector.
No fewer than four private banking articles made it into the top ten most read pieces. Attention focused in particular on the hunt for talent in a sector marked by scarcity. The most read article of the year was about the “hunter” as the most sought-after profile at private banks. Relationship managers who actively go “hunting” for new clients proved to be rare and expensive, but indispensable in a market where organic growth is becoming increasingly difficult.
Closely related to this, readers were curious about what bankers earn today. The salary overview by Page Executive, which detailed the compensation of private bankers—from junior to very experienced—attracted a large readership. With less than five years of experience, the salary ceiling is around 70,000 euro. Private bankers with ten years in the profession can quickly expect compensation of 120,000 euro.
Experienced professionals are scarce and can set ever higher demands. At the same time, an older generation is nearing retirement and the inflow of young talent is limited. This creates a competitive market in which interest in young talent is growing. The profile of the private banker is changing, as shown by the portrait of 28-year-old private banker Pauline Laevens. Advice increasingly goes beyond the construction of an investment portfolio alone. Clients expect guidance on their entire wealth and at every step of a new life phase. The younger generation also shows a more pronounced interest in the sustainable side of investing.
Although the younger generation is digitally savvy, like older clients they still prefer personal contact when it comes to important financial decisions. This is a reason for private banks, despite the digital age, to open new regional offices. A physical presence in the region, preferably in a familiar building, therefore remains an important commercial asset.
Exceptional growth
Alongside talent, growth also attracted attention. Mercier Van Lanschot spoke of “exceptional growth,” figures that did not go unnoticed in the sector. Assets under management increased by 17 percent to 149 billion euro, of which 2.2 billion euro was at Private Clients Belgium. The strong growth in Belgium led Van Lanschot Kempen to appoint CEO Thomas Vanderlinden as a member of the Board of Directors, with responsibility for Private Clients Belgium.
Growth requires choices. Argenta loosened its ties with fund partner DPAM by fully acquiring the 25 percent stake in joint venture Arvestar. Operational cooperation remains in place, but Argenta is consciously opting for greater autonomy in the management of the 3.5 billion euro in pension savings funds. Simplicity in investments and in the asset management structure is central to this strategy, with Argenta as the sole shareholder of Arvestar Asset Management and a renewed agreement with DPAM for the financial management of the Arvestar funds.
That choice for simplicity and autonomy is now being finalized. Argenta is bringing its Belgian and Luxembourg asset management activities together in a single fund house with 18 billion euro in assets under management, which will operate from Antwerp under the name Argenta Asset Management from January 1, 2026. Under the leadership of CEO Hugo Lasat, the group is positioning itself clearly for further growth in the Belgian market.
Simplicity also provides clarity, especially in a fiscally uncertain climate. Belfius AM therefore decided to place six common investment funds (CIFs)—investment vehicles without separate legal personality—with Fullinvest. Fullinvest is a SICAV (investment company with variable capital) and does have legal personality. With this move, Belfius AM anticipated the upcoming capital gains tax, which in principle takes effect on January 1, although collection is expected to start only from July 1.
Reynderstaks
The new 10 percent capital gains tax dominated many editorial meetings and client discussions. Contrary to expectations, the Reynders tax will remain in place, leading to a complex overlap of taxes on mixed funds. This growing complexity threatens to deter investors, according to voices from the sector.
Where an excess of rules can lead to unnecessary complexity, a lack of regulation creates an opaque playing field. The number of family offices in Belgium is growing, but the absence of a clear framework also gives “cowboys” free rein. This explains the attention for the establishment of the Belgian Family Office Association. Wealthy families are no longer looking only for good investments, but for integrated advice on taxation, governance and wealth planning. The new umbrella organization aims to define the profession of family officer and provide a platform for best practices, with the goal of further professionalizing this niche market.
Top 15 most read articles 2025 Investment Officer Belgium:
- ‘Hunter’ meest gevraagde profiel bij private banken
- Argenta maakt banden met fondsenpartner DPAM losser
- ‘Exceptionele groei’ voor Mercier Van Lanschot
- Page Executive: hoeveel verdient een private banker?
- Jonge private banker Pauline Laevens (Delen): ‘Krijg energie uit gesprekken met ondernemers’
- Private banken verscherpen lokale focus met fonkelnieuwe kantoren
- Belfius AM stroomlijnt fondsen
- Hertimmerd Argenta Asset Management klaar voor offensief
- Behoud Reynderstaks ligt fondsensector zwaar op de maag
- Belgische sectorkoepel voor family offices boven de doopvont