Groupe Bruxelles Lambert GBLB.BR

Founded in 1902, Groupe Bruxelles Lambert is a Belgian holding company located in Brussels. Also known as GBL, the firm invests in companies that are considered leaders in their respective industries and that match GBL’s long-term strategy. GBL was previously called Bank Brussels Lambert, until a merger with Banque de Bruxelles in 1975.

Traded as GBLB, Groupe Bruxelles Lambert went public in 1956 and is listed on the Euronext. The controlling stake of GBL belongs to Pargesa Netherlands B.V., which in turn is controlled by Pargesa, a holding company located in Geneva, Switzerland.

Drexel Burnham Lambert, a member of the Lambert family that founded GBL, is credited with introducing the concept of trading junk bonds. These bonds usually carry a significantly higher default rate as compared to normal bonds, but with a much higher yield. The payouts are higher to entice investors and lure them away from more traditional bonds issued by governments and investment grade corporations.

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