Peggy Brion Becomes CEO of Bank Nagelmackers

Peggy Brion, a French woman, takes over as the new CEO of Bank Nagelmackers and thus becomes the head of one of the oldest financial institutions in Belgium.

About a month after the completion of the acquisition of Bank Nagelmackers by the French banking group Caisse d'Epargne Hauts de France, a leadership change is already taking place within the Belgian private bank and asset manager. With the approval of the regulators, Brione will lead the bank, which has a history of more than 275 years. The 46-year-old French woman has almost twenty years of experience at the French bank and is currently a member of the management committee.

Bank Nagelmackers employs more than 340 people and manages approximately 2 billion euros as a private bank. Since 2020, Bank Nagelmackers has been led by David Yuan. Until Caisse d'Epargne Hauts de France acquired Bank Nagelmackers last summer through its subsidiary BPCE, the bank was owned by the Chinese insurer Djia Insurance. They had been looking for a buyer for the bank for some time.

The acquisition of Bank Nagelmackers by Caisse d'Epargne Hauts de France significantly strengthens their position in Belgium. Before the acquisition, the group had only a small branch in Brussels with 15 employees. Bank Nagelmackers, on the other hand, has more than 340 employees and manages approximately 2 billion euros as a private bank.

The Belgian private banking sector is in full swing. banks are increasingly focusing on the lucrative market of private banking services for wealthy clients in order to be less dependent on fluctuating interest income. Major players such as ING and Belfius are openly ambitious in this niche. This month, Delen Private Bank from Antwerp completed the acquisition of fellow city resident Dierickx Leys. Earlier, the French Indosuez Wealth Management bought the Belgian Degroof Petercam.

Questions & Answers

Who will be the new CEO of Bank Nagelmackers?

Peggy Brion, a French woman with almost twenty years of experience in the French banking sector, will become the new CEO of Bank Nagelmackers.

What will change for Bank Nagelmackers after the takeover by Caisse d'Epargne Hauts de France?

The acquisition significantly strengthens the position of Caisse d'Epargne Hauts de France in Belgium, as Bank Nagelmackers has more than 340 employees and manages approximately 2 billion euros.

How is the private banking sector developing in Belgium?

The sector is in a state of flux, with banks increasingly focusing on the lucrative market of private banking services for wealthy clients to reduce their dependence on fluctuating interest income. Major players such as ING and Belfius are openly ambitious in this niche.