Credit Agricole Luxembourg, Credit Agricole SA’s specialised private banking subsidiary, has agreed to acquire the majority of the shares of Dresdner Van Moer Courtens (DVMC), a Belgian brokerage specialising in private banking.

As per the agreement, Credit Agricole Luxembourg will merge the existing private banking business operated by its subsidiary CAGP Belgium with DVMC.

The new entity will be known as Credit Agricole Van Moer Courtens and will become the development hub for Credit Agricole SA’s private banking business in Belgium.

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