And its expansion is not confined to Europe: it also reaches Asia and North America and creates cross-business, cross-border support platforms, such as the one used for credit cards and international payments.
The Banker’s judges were particularly impressed with Fortis’s achievements in China. Fortis Investments’ joint venture in China has gained a market share in the fund management sector of more than 3%. Fortis is one of the few foreign groups to obtain a licence to manage China’s new company pension schemes, and was also granted a qualified foreign institutional investor (QFII) quota, making it the second largest QFII holder in China.
“This award provides an important endorsement for our strategy and the excellent progress we are making against our 2005-09 plans,” says CEO Jean-Paul Votron. “Our strategy focuses on growing our banking and insurance businesses across Europe, and selectively in Asia and North America, based on core competences and reflecting the needs and expectations of our customers. Our consistent results are proof that the model is working and, based on this, we plan to update our business plans and long-term financial targets in March 2007.”
