24 April 2013

KBL epb outlines 2015 growth strategy 

Group senior management highlight focus on achieving critical mass across European network, including through acquisitions Detail range of initiatives launched as part of Transformation Programme, including new client segmentation model Describe proactive approach to onshorization process and long-term positioning of offices in Luxembourg, Monaco, Switzerland and UK

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The senior management of KBL European Private Bankers (KBL epb) outlined today the Group’s three-year growth strategy, including a series of 14 key initiatives that will support the realization of KBL epb’s vision to become a top 20 European private bank by 2015.

Operating in nine countries in Europe, KBL epb is currently focused on achieving critical mass across its network – including through planned acquisitions in select markets such as France, the Netherlands and Spain – to ensure that each entity has a minimum of €5 billion in assets under management. Currently, the Group manages some €80 billion, including €41 billion in assets under management and €39 billion in assets under custody.

Simultaneously, KBL epb has a launched a Group-wide Transformation Programme, aimed at further professionalizing its approach to clients, delivering greater value and contributing to bottom-line results.

In particular, the Group is revisiting its client segmentation model, seeking to rapidly grow its HNW client base and gradually introduce new services for UNHW clients – while maintaining its commitment to personal banking clients.

Following the recent appointment of a range of industry leaders to the Executive Committee of KBL epb, the Group continues to strengthen its governance model towards a more centrally steered organization, retaining its focus on local entrepreneurship.

Through these closely linked internal change initiatives and via inorganic expansion, the Group has defined profitability targets of €50 million in 2013 and €100 million by 2015.

“Today, KBL epb has significant growth ambitions and the full support of our shareholder to achieve our goals,” said Jacques Peters, Group CEO, KBL epb. “By establishing a leading presence in every market in which we currently operate – while also increasingly seizing emerging opportunities abroad – I am confident that we will realize our 2015 vision.”

While focusing on its core business of private banking, the Group will also continue to reinforce the services provided by its Global Investor Services, Global Financial Markets and Asset Management departments, according to Peters.

“Through our central hub in Luxembourg, supported by best practice corporate governance structures and highly efficient operational and IT platforms, the Group will remain focused on service and product excellence through our ongoing commitment to innovation and client care,” he said.

In Luxembourg, KBL epb is investing significant resources in the onshorization process, which is being supported by enhanced cross-border cooperation among Group entities.

Through this proactive, strategically planned approach, KBL epb is today positioned to emerge from this critical process even stronger, as one of the very few international-standard private banking groups that can offer local solutions across Europe.

“Moving forward, in offices such as Luxembourg, Monaco, Switzerland and the UK, we will be able to concentrate more keenly on our core competency as private bankers who serve an international client base,” said Olivier de Jamblinne de Meux, CEO, Luxembourg, KBL epb.

“We will continue to build our client base of globally active Europeans,” he said. “At the same time, we will also seize opportunities to attract ultra high net worth clients from emerging markets such as the Middle East, Asia and Latin America.”

In line with its reinvigorated approach to growth and increased focus on dialogue, the Group is investing in enhanced communication with all its stakeholders, including clients, staff and media.