Fortis Banque · Brussels Belgium
Company Description
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This link will open in a new window Fortis saw its fortress walls falling down, but with the reinforcement assistance from new parent BNP Paribas hopes to rebuild itself. The European bank was nationalized in 2008 to prevent its collapse when share values plummeted. The following year, after wrangling with shareholders and regulators, BNP acquired a majority stake of 75% of Fortis Banque (also known as Fortis Bank) and rebranded the company BNP Paribas Fortis. Fortis provides retail banking, merchant banking, private banking, and asset management services. The company operates more than 1,000 branches in Belgium. To read the full description, subscribe now.
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Key Fortis Banque Financials
| Company Type | Subsidiary Headquarters |
| Fiscal Year-End | December |
| Annual Sales (mil.) | $20,138.6 |
| Employees | 1,000 |
Fortis Banque Executives
12 executives listed for Fortis Banque's Brussels, location.
| Title | Name & Bio | Contact |
| Chairman and CEO | Jean Laurent Bonnafé | Network |
| Vice Chairman, COO, and Head, Group Functions | Filip Dierckx | Network |
| CFO | Lars Machenil | Network |
Competition
Competitive Landscape for Fortis Banque
Demand is driven by economic activity that results in company mergers, acquisitions, or public financing. The profitability of an investment bank depends on its ability to accurately assess both the value of a business transaction and the readiness of the market to buy the attendant debt or equity. Big firms have an advantage because large customer transactions require firms with substantial financial resources. Small investment banks can compete by participating in syndications and operating in regional markets or specialized industries. Although labor-intensive, the industry produces very high value: average annual revenue per employee at large firms is under $1 million. The global financial crisis of 2008-2009 dramatically altered the landscape of the investment banking industry. Morgan Stanley and Goldman Sachs, the only large firms still intact, have changed their status from investment banks to bank-holding companies. Both firms still engage primarily in investment banking, but former industry leaders such as Bear Stearns, Merrill Lynch, and Lehman Brothers have either been acquired or have filed for bankruptcy protection. The demise of these firms and the late 2000s recession have likely ushered in a new era in which the creation of innovative but risky financial instruments will be replaced by more traditional banking services. The new environment also means more industry oversight by the federal government, which had to step in and bail out dozens of financial services firms with billions of dollars of taxpayers' money. To read the full description, subscribe now.Top Fortis Banque Competitors
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