Alpha Crédit, a subsidiary of Fortis, is partnering Finaref, a Crédit Agricole subsidiary, to form a joint Brussels-based company called Finalia. Under the agreement, which is subject to the approval of the Belgian and European authorities, the new entity will be 51% owned by Finaref and 49% by Alpha Crédit. The chairman of the board of directors, appointed by Finaref, will be Laurent Garin, and the chief executive, chosen by Alpha Crédit, will be Marc Smet, who will manage Finalia's operations.[...]