Bank Belfius and fund company Candriam have extended their partnership that will see the creation of a new financial giant in Belgium. Under the terms of the new arrangement, the new 50/50 joint-venture will create the largest asset and discretionary manager in Belgium. The deal -still subject to regulatory approval- will run to 2025.
The planned venture includes building a new structure dedicated to discretionary portfolio management for private clients within Belfius Investment Partners’ asset management teams. On the other hand, the clients of Belfius could benefit from Candriam’s expertise in asset management and ESG.
Together, Belfius and Candriam aim to build a new giant in the Belgian market and become the local reference for investments, private banking and discretionary management.