Philippe Masset appointed CEO of Banque Degroof Luxembourg

Friday, January 8, 2016 — Philippe Masset, CEO of the group Bank Degroof Petercam, has been appointed CEO of Bank Degroof Luxembourg, subject approval by the competent supervisory authorities.  He will temporarily take over from Geert De Bruyne, who withdrew from his duties. With the support of the local members of the management board, he will ensure the daily management and the development of Luxemburg within the group, as well as the integration process of the Luxembourg entities, resulting from the merger of Bank Degroof and Petercam, awaiting the appointment of the definitive CEO.

Philippe Masset was appointed CEO of the group Degroof in May 2014 to further develop the activities of the bank, whilst maintaining its independence. In 2015, he led the merger with Petercam, creating the reference independent financial institution in Belgium. He is a recognized professional and has gained significant international experience, mainly from banking and investment firms  in Belgium and Luxembourg. He has previously held senior management positions, including Chief Executive Officer and member of the executive committee of ING Belgium.

Philippe Masset: "We would like to thank Geert De Bruyne for his long contribution to the development of the group. I am delighted to join the teams in Luxembourg to continue our development for the benefit of our clients, both private and institutional investors. We are convinced that our multi-business and multi-country offering  constitutes a unique and differentiating asset to meet the needs of our clients and to respond to challenges in the industry. Our centre in Luxembourg is at the heart of our growth strategy, and we will pursue the development of specific expertise domains that are essential for the group."

Bank Degroof Petercam has also appointed John Pauly-  Head of Asset Services and member of the management board of Banque Degroof Luxembourg -  as member the Group Management Committee (GMC) and of the International Network Committee (INC) of the group. He will strengthen, next to the new appointed CEO of Luxemburg, the representation of the Asset Services business as well as of the Luxembourg activities within the management bodies of the group.

John Pauly began his career at Banque Internationale à Luxembourg as business development manager, a position he held for 12 years. Prior to joining Banque Degroof Luxembourg in 2013 as managing director of Institutional Management, he was CEO of Moventum (10 years) and managing director of First European Transfer Agent (6 years). John Pauly is currently CEO of Asset Services in Bank Degroof Petercam Luxembourg.

Banque Degroof Luxembourg

Banque Degroof Luxembourg is part of the group Bank Degroof Petercam following the merger of Bank Degroof and Petercam on the 1st October 2015.  The timeline for the integration foresees that the Luxemburg entities of the group  will gradually merged in 2016, subject to formal decision by the management bodies of the concerned entities and approval by the competent supervisory authorities.