Van Lanschot, Achmea and Staalbankiers today announced that they have reached agreement on the acquisition by Van Lanschot of Staalbankiers’ private banking activities. Staalbankiers clients and employees will be advised of the takeover today.
In addition to Staalbankiers’ private banking client relationships, Van Lanschot will acquire around €1.7 billion in assets under management, around €280 million in savings and a limited number of securities based loans. Furthermore, a total of 25 private bankers and investment experts of Staalbankiers will transfer to Van Lanschot. The deal does not involve the other activities of Staalbankiers, which include a portfolio of approximately €250 million in mortgages and 35 employees.
Van Lanschot will pay an initial acquisition price of €16 million for the activities to be acquired. The final price may be higher or lower depending on the AuM amount that will actually transfer to Van Lanschot. The transaction is subject to a number of conditions, including declarations of no-objection issued by De Nederlandsche Bank (DNB) and the completion of the employee consultation procedures involving the Van Lanschot and Achmea works councils.
Richard Bruens, Van Lanschot Executive Board member responsible for Private Banking: “We’re delighted with this acquisition, which enables us to expand our assets under management and serve even more clients with our innovative concepts for wealth planning, wealth management and advice. Staalbankiers enjoys strong positions in its market segments. Its specialists support wealthy private individuals, entrepreneurs, professionals and institutions such as charitable organisations, which are a close fit with our client groups. Van Lanschot has what it takes to help these clients to preserve and create wealth, and is very happy to welcome them aboard.”
Willem van Duin, Chairman of the Achmea Executive Board: “The sale ties in with our strategy to focus on our insurance activities. Staalbankiers’ private banking activities are a logical and natural fit with Van Lanschot, where private banking is a core activity. I’m confident we’ll be able to offer our clients a very smooth transition to a player with a broader product and service offering. The employees transferring to Van Lanschot will join a specialist, independent wealth manager offering plenty of opportunities for their development.”
Van Lanschot, Achmea and Staalbankiers expect to complete the transaction in the fourth quarter of 2016, subject to the conditions outlined above.
Staalbankiers, a private bank with offices in The Hague, Oosterbeek and Zwolle, offers as principal services asset management, savings, deposits and mortgage services. It was founded by Machiel Staal, a The Hague-based broker, in 1916, and grew from a brokerage firm into a private bank in the decades that followed. It became part of Achmea in 1994.
Achmea is the parent company of major insurance brands such as Centraal Beheer, Interpolis and Zilveren Kruis, together constituting the biggest insurance group in the Netherlands. As part of its cooperative background, Achmea balances the interests of its customers, partners, employees and shareholders. In 2015, Achmea customers paid premiums of around €20 billion to cover insurance losses, health costs, pensions and life insurance products. Achmea is active in five other countries outside its home market of the Netherlands, and employs 15,000 people.
Van Lanschot NV is the holding company of F. van Lanschot Bankiers NV, the oldest independent bank in the Netherlands with a history dating back to 1737. Van Lanschot, a wealth manager operating under the Van Lanschot, Kempen & Co and Evi van Lanschot brand names, is active in Private Banking, Asset Management and Merchant Banking, with the aim of preserving and creating wealth for its clients.