Private Banks

2024 was a year of further consolidation in the Belgian private banking market. Many are eager to see what room for manoeuvre Degroof Petercam will have under its new French owner, Indosuez.

Luxembourg-based Intesa Sanpaolo Wealth Management is positioning itself to lead the charge into a new era of digital private banking.

Luxembourg’s private banks are falling short in their digitalisation journey, despite recognising its strategic importance, according to a new survey conducted by KPMG in collaboration with the ABBL.

ING Luxembourg is transferring approximately 18,000 retail clients with basic daily banking needs to BGL BNP Paribas.

No less than four of the five wealthiest municipalities in Belgium are located in the Province of Luxembourg, which borders the Grand Duchy of Luxembourg. This Belgian province—particularly its border areas—has been identified as an attractive growth market by private bankers and wealth advisors.

While one active ETF after another enters the market, various Dutch banks have yet to add these to their offerings, and pension funds are still adopting a wait-and-see approach. The added value compared to other passive strategies has yet to be proven, particularly in the form of a track record.

Quintet Private Bank announced on Thursday the launch of its Luxembourg-based Finnish desk by building a new team that crossed over from competitor Union Bancaire Privée.

The Federal Reserve has announced plans to substantially ease the capital requirements for large US banks, marking a significant shift in the implementation of Basel III standards. This pivot reflects the struggle regulators face in balancing the need for financial stability with the competitiveness of banks.

The largest maturity date in Belgium’s financial history. That is how Peter Adams, CEO of ING Belgium, describes today’s expiry of the much-debated one-year state note, on 4 September.

Banque Havilland, a Luxembourg-headquartered private bank controlled by Prince Andrew’s longtime financial adviser David Rowland, has effectively been put out of business in Europe following a coordinated clamp-down by EU regulators amid persistent governance and money laundering issues.