BPCE, New Owner of Novobanco, to Open Natixis Office in Lisbon
The French banking group BPCE, which recently completed the acquisition of Novobanco, is now planning to establish the first office for its Natixis brand in Lisbon. The news, first reported by Bloomberg on Tuesday, marks a significant expansion of the group's footprint in Portugal. A spokesperson for BPCE confirmed the move, stating, “We have decided to have a new center in Lisbon,” and clarified that the new location will serve as a “complementary” hub to the existing Natixis operations in Porto.
This strategic expansion into the Portuguese capital comes less than three months after BPCE finalized its €6.4 billion takeover of Novobanco, one of the most significant banking transactions in the European, Middle Eastern, and African regions during the first half of the year. The move signals deeping roots in the Portuguese financial market and a vote of confidence in its economic environment. The new office is expected to bolster the group's investment banking and corporate services capabilities within the country.
Groupe BPCE, established in 2009, is a major French financial services firm that owns the investment bank Natixis. Until now, Natixis's presence in Portugal has been centered on a large technology and innovation hub in Porto. This center provides critical support in information technology, banking operations, compliance, corporate and investment banking, as well as asset and wealth management. The Porto hub is a significant part of the group's international division, employing over 2,600 professionals from 41 different nationalities, making it one of the largest human resources investments for the Paris-headquartered holding company.
The decision to open a client-facing and operational office in Lisbon represents a new phase in BPCE's strategy for Portugal. While the Porto hub focuses on back-office and technological innovation, the Lisbon office is anticipated to handle more direct investment banking activities, bringing the Natixis brand closer to the country's economic and political center. This move aligns with the trend of international financial institutions strengthening their presence in Lisbon, recognizing its growing importance as a European business capital.
The establishment of a Natixis office in Lisbon is expected to create new, specialized jobs in the financial sector, attracting both local and international talent. It underscores the strategic importance of the Portuguese market for Groupe BPCE following its substantial investment in Novobanco. The new office will allow the French group to better integrate its operations and leverage the synergies between its various banking entities in Portugal, including the newly acquired Novobanco and the expanding Natixis brand.
Market observers view this expansion as a logical next step for BPCE, allowing it to consolidate its position and compete more effectively in the Portuguese banking and investment landscape. The move is a clear signal of the group's long-term commitment and growth ambitions within Portugal, building upon its already substantial operational base in Porto.
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