Van Lanschot Kempen and UBS today announced that they have successfully completed the acquisition by Van Lanschot Kempen of UBS’s domestic wealth management activities in the Netherlands.
The combination of the domestic wealth management activities of UBS in the Netherlands with Van Lanschot Kempen’s offering results in a strong and differentiated proposition for family offices, foundations and charities and ultra-high net worth private individuals.
Karl Guha, Chairman of Van Lanschot Kempen’s Executive Board: “We’re delighted to welcome UBS’s wealth management clients in the Netherlands. This acquisition represents a step-change in our positioning and profile in the top-end of the wealth management market. Welcoming on board as new colleagues 35 UBS professionals greatly enhances our position as a distinctive wealth manager. Together, we will work hard in order to create the best offering and value for clients and prospect clients.”
Following the signing of the agreement, René Mottas, Head Wealth Management Luxembourg at UBS, said: “We are pleased to have found a leading wealth manager in the Netherlands to advise and partner with our domestic clients going forward. UBS remains committed to the Dutch offshore wealth management market and we will continue to serve our cross-border clients out of the key hubs Luxembourg and Switzerland. Our investment banking and asset management businesses in the Netherlands are not affected by this transaction.”
The transaction comprises the client relationships and employees of the wealth management activities of UBS Netherlands, a branch of UBS Europe SE, currently having assets under management (AuM) of around €2.6 billion. The transaction also comprises the products and services of the Netherlands branch of UBS Europe SE. Van Lanschot Kempen and UBS have entered into a cooperation agreement that includes the provision of UBS wealth management research and selected UBS products and services to Van Lanschot Kempen.
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