AXA, a financial services group focused on financial protection, insurance and asset management, has decided to coordinate its European retail banking operations through AXA Bank Europe, in close cooperation with its local insurance operations.

The objective of these banking operations is to complement the financial protection offering with a range of retail banking products, while ensuring adequate development, control and risk management throughout Europe.

AXA Bank Europe will utilize AXA Bank Belgium, as its centralizing legal entity. AXA’s other banks will operate as subsidiaries or branches. AXA Bank Europe will be supervised by Alfred Bouckaert, member of AXA’s management board, and will be managed by Herve Hatt, CEO of AXA Banque in France.