Crédit Agricole Luxembourg is to acquire a majority shareholding in Dresdner Van Moer Courtens

Crédit Agricole Luxembourg, Crédit Agricole S.A.’s specialised private banking subsidiary, has recently reached an agreement to acquire the majority of the shares of Dresdner Van Moer Courtens (DVMC), a Belgian brokerage specialising in private banking, subject in particular to approval by the supervisory authorities.

Crédit Agricole Luxembourg is to merge the existing private banking business operated by its subsidiary CAGP Belgium with DVMC. The new entity will be known as Crédit Agricole Van Moer Courtens and will become the development hub for Crédit Agricole S.A.’s private banking business in Belgium.

Crédit Agricole S.A. has thus strengthened its foothold in Belgium and confirmed its ambitions for the country’s private banking market.

DVMC’s current managers, Damien Courtens and Frank Bruynseels, will be involved in this project and will work with the current management of CAGP Belgium in order to bring it to fruition.