Following what appears to be irreconcilable differences of opinion, the board of directors of Degroof Petercam and CEO Philippe Masset have mutually agreed to end their collaboration. Subject to the approval of the regulatory authorities, board and executive committee member Bruno Colmant will be appointed the new CEO.

In a press statement Degroof Petercam said that the board and Masset had concluded that there was no longer sufficient mutual trust left between both parties. But the board of directors did thank Masset “for his efforts in his functions” and wished him all the best in his future endeavours.

Bruno Colmant has been with the group since 2015 and has served as its head of macro research. “With his experience as a manager and market specialist and his knowledge of the group's businesses, he is well placed to ensure Degroof Petercam's development in an ever-changing financial sector,” the bank's statement says.