Private banks are committed to serving the clients of the future

Since arriving in Luxembourg in 1987, it has developed a range of services designed for its local clientele based on a detailed understanding of their needs and objectives. Banque Degroof Petercam is committed to its principals of entrepreneurship and sustainability, which, more than ever, enable it to meet the expectations of wealthy families and business owners based in Luxembourg.

"Our bank was founded in Belgium in 1871 by financially successful entrepreneurs and families. 150 years later, the same shareholder families still head the bank, thus demonstrating the relevance of a long-term approach to managing our clients’ wealth", commented Kris De Souter, Head of Private Banking at Degroof Petercam Luxembourg.

Focusing on long-term performance

The concept of sustainable growth, which is currently very fashionable, has been part of the Bank’s DNA from the outset. "Degroof Petercam is not seeking short-term profit, but is committed to the interests of the second, third and even fourth generation," said Mr De Souter.

Private banking has evolved over the decades along with the needs of affluent clients. “Wealth management today faces increasing complexity as it responds to the needs of cross-border families," commented Romain Wolff, head of the Bank's Luxembourg desk. In a country as open to the world as Luxembourg, local clients and expatriates often have children and assets abroad. It is therefore important to advise them based on a detailed understanding of their needs and objectives in terms of investment and wealth transfer.

Personalised services

To serve each client optimally, the private banker must invest in the relationship. “For example, the needs of a successful entrepreneur are often very different from those of a local client who has sold a property and then seeks to grow those assets," explains Romain Wolff. “Our role is to provide each client with the necessary investment and planning advice that takes international taxation into account in a personalised, highly discreet manner.”

To meet diverse needs and understand the complexity inherent in each situation, the relationship manager must have access to a range of skills and knowhow. "An entrepreneur might have corporate finance needs or want to be assisted in the sale of their business. Some clients will take out a Lombard loan to invest their assets in line with their values and convictions, which these days increasingly has a sustainable and responsible dimension. Others need expert support when investing in art,” commented Kris De Souter .

HNWI (high net worth individuals) and UHNWI (ultra-high net worth individuals) have a wide diversity of needs, some of which are more or less complex to manage. To meet those needs, Degroof Petercam has nearly 400 employees in Luxembourg, including 50 dedicated to private banking. “This way, each client can not only find a solution to their needs, but also a trusted advisor who is qualified to answer their questions in their native language," commented Romain Wolff. Our desk dedicated to Luxembourg clients enables us to understand local expectations, and to respond with tailor-made solutions.

Investing for tomorrow

In Luxembourg, Banque Degroof Petercam has developed skills to meet the needs of Family Business Owners (FBOs) and to assist them with the challenges of valuation and ownership transfer. In addition to advisory or discretionary management, the Bank also enables its more discerning clients to invest in private equity assets, allowing them to seek returns by supporting players in the real economy.

Finally, the Bank has solid experience in sustainable investment, a field in which it has been active for some twenty years. “We are strongly convinced - and our 20-year track record in this area proves it - that investing using ESG criteria reduces risk and does not harm performance," said Kris De Souter. “If 5 or 10 years ago our clients did not pay much attention to these aspects, they do now. However, we did not wait for this change to happen, because we want to invest for tomorrow.”

Banque Degroof Petercam Luxembourg can help you manage your assets. Contact Romain Wolff, Head of Luxembourg Market: r.wolff@degroofpetercam.lu