On Monday 4 April 2016, around 329 employees will come together at 12 rue Eugène Ruppert in the Cloche d'Or district under the newly-merged Banque Degroof Petercam Luxembourg.
Petercam has been present in Luxembourg since 1985, when it was first specialised in private management before transferring the management of its range of bond funds to the Grand Duchy in the early 2000s and establishing its own institutional management company, Petercam Institutional Asset Management (Luxembourg) SA.
The current 36 employees of Petercam Luxembourg will move to the Banque Degroof premises in Place d'Armes, which first set up shop in the country two years after Petercam Luxembourg when it started out with just a four-person team. The merger marks 30 years in Luxembourg and the Group's 145th year in existence.
"We are delighted that our business and our presence are being bolstered by this merging of our teams," commented Philippe Masset, Degroof Petercam's CEO. "We will not necessarily be going out in new directions but rather continuing on our present course, firmly believing that our independence model will last."
A spokesperson for the new entity has announced two growth objectives for this business line, these being to promote the business ahead of all internal activities in the group, and to build on an external growth strategy related to both local and international clients. The Group is also reportedly working on a multifaceted digital future plan which would be able to hold its on through the in progress revolution whilst retaining an independent bank model. Three months ago, the Group launched a multi-year project which will require signficant investment over the course of the next three years.
Within the next week, the building at 12 rue Eugène Ruppert is expected to sport the new colours of the Degroof Petercam S.A. bank.
