Indosuez Wealth Management completed the acquistion of a majority stake in Degroof Petercam from Cobepa for $1.55bn.

Indosuez Wealth Management, a financial services firm, completed the acquisition of a majority stake in Degroof Petercam, an investment house, from Cobepa, a privately-held investment company, for $1.55bn. "We are delighted to have reached this agreement with the shareholders of Degroof Petercam, a long-standing leader in wealth management. This proposed alliance will be an important step in our development in Europe, in line with our strategic plan, and will make Belgium our second domestic market. We look forward to working with the Degroof Petercam team," Jacques Prost, Indosuez CEO.