The expansion of this department reinforces the bank’s objectives by offering an all-encompassing service to clients with an important and sophisticated patrimony. This service may appeal to the bank’s current clientele, but it’s also aimed at new clients and entrepreneurs who would benefit from this type of highly personalised financial support.
Clients are increasingly requesting more diversified advice
“This request is due to the fact that the capital structure of wealthy clients is only becoming more complex, more diversified and more international. This service is a natural supplement to private banking services and is primarily related to the total assets of high net worth clients and to all their needs”, says Thomas Peperstraete.
The Family Office’s objective is to offer sophisticated advice for the total package of assets (classical portfolios, private equity, art banking, real estate, insurances, philanthropy) and in every discipline (asset allocation, cash management, payments, succession, tax law, accounting, administration, family affairs). This takes place completely independently of (selection and appointment of asset managers, cost analysis, return and risk analysis, consolidation and reporting) the private banking team. The Family Office department emphasises coordination, planning and follow-up of capital more, rather than just its mere management.
The Family Office’s services are tailored to the client, objective and in relation with goals the client has set for him or herself. This helps ensure a long-term approach. This can range from the development of a customised investment strategy to tax, accounting and insurance advice covering several different generations. The departure point is the investment profile drawn up together with the relevant person (What are the objectives? What does one hope to achieve by which age? What is the ideal scenario for future generations?). Afterwards, we ascertain how one can achieve the established personal goals by applying specific investment techniques such as Goals Based Investment and Impact Investment.
Thomas Peperstraete will be responsible for developing this activity. To begin with it will be offered in Belgium and Luxembourg. Thomas was previously CEO of The Royal Properties Group and a law partner at CMS DeBacker, specialising in international M&A transactions and restructurings.
“We are delighted to have the opportunity to welcome Thomas Peperstraete as head of the Family Office. His experience and expertise will be a tremendous contribution to the further development of this activity. The Family Office will allow us to provide even more diversified, personal and financial advice that’s tailored to clients’ needs”, says Xavier Van Campenhout, Deputy CEO of Bank Degroof Petercam.