insurance activities in France, Belgium and Germany. In 2000, the bank acquires Financial Security Assurance (FSA) in the United States, a major player in credit enhancement for municipalities, making Dexia the world leader in the marketing of financial services to the public sector. Dexia is active in nearly all European countries in this market as well. This marks the start of an annual reserved capital injection to which only Dexia members of staff can subscribe. In 2001, Dexia acquires Artesia Banking Corporation, a banking group active in retail banking (BACOB), insurance (LAP), investment banking (Artesia) and asset management (Cordius). The stake in Crediop grows to 70%, and Dexia becomes main shareholder in Otzar Hashilton Hamekomi, an Israeli credit provider for local authorities. The integration of the Artesia branches in Belgium begins in 2002. The fusion between Dexia Bank and Artesia BC brings a certain number of advantages all the while meeting certain objectives: increase retail customer base from 15 to 25%, become a market leader in bancassurance, become a fully fledged participant in private banking activities, become one of the top 3 asset managers on the Belgian market and remain the leading bank in the public and non-profit sector. Dexia acquires 99.8% of the Turkish firm Denizbank in 2006 and creates an Institutional Investment Joint Venture with Royal Bank of Canada the same year: a 50/50 Partnership called RBC Dexia Investor Services. Recent events Management Committee On 5 September 2011, Jos Clijsters, at the time adviser to the Dexia SA management committee, is appointed chairman of the management committee of Dexia Bank Belgium, replacing Stefaan Decraene, who leaves the group to assume an international post at another bank. On 1 January 2014, Jos Clijsters left his position as Chairman of the Management Board for the position of Chairman of the Board of Directors. Marc Raisière succeeded him as Chairman of the Management Board. Purchase by the Belgian State On 4 October 2011, in the wake of a series of negative news, in the space of one day customers withdrew 300 million Euros from the bank. In response to this news, the Belgian and French governments, declaring themselves guarantors of the bank, wish to split the company to save the healthy parts and isolate the toxic parts. On 10 October 2011, the take-over of Dexia Group’s Belgian subsidiary, Dexia Bank Belgium, by the Belgian State, is announced. This is completed at