Natixis Owner BPCE Doubles Down on Portugal After Novo Deal (1)

French lender Natixis SA plans to open its first office in Lisbon, marking another significant expansion in Portugal for parent BPCE SA, only months after it bought the local competitor Novo Banco SA.

The new location in the country’s capital represents “Natixis’ ambition to further invest in national talent,” it said in a press release on Tuesday that confirmed an earlier Bloomberg News report. The firm will start hiring for the expansion this month, with the office opening expected early next year.

The announcement comes less than three months after BPCE agreed to buy Portugal’s fourth-biggest lender, ...