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Van Lanschot presents strategy update 2020

  • Van Lanschot enters the next phase of its wealth management strategy: building on a strong foundation, adapting to a changing world, taking advantage of opportunities this offers and creating value for clients
  • Key strategic themes for core activities:
    - Private Banking: enhance client experience through omnichannel service model and focus on increased front-line effectiveness
    - Evi van Lanschot: to become separate segment for self-directed clients, playing into the trend towards increased individual responsibility for pensions, healthcare and other needs at all levels of society
    - Asset Management: realise growth from strong position by launching new strategies, intensifying distribution and developing UK as second home market
    - Merchant Banking: building on a solid, sustainable position in selected niches with a capital-light operating model
  • Launch of €60 million investment program for the 2016-2019 period to implement omnichannel private bank and finalise transformation of IT landscape
  • Efficiency gains to result from partnerships for standardised universal banking services, streamlining of operations and support functions, and transfer to omnichannel private banking service model
  • Continued run-off of the Corporate Bank to result in capital release
  • 2020 financial targets and revised capital and dividend policy defined

Van Lanschot today presents an update of its strategy, as well as its trading update for the first quarter of 2016. The strategy update will be presented in full at the Investor Day held today at 1.30pm CET.

Karl Guha, Chairman: “Our clients choose Van Lanschot and Kempen as their trusted adviser to help them navigate the challenging financial and economic environment and an increasingly complex world. Their choice is informed by our key strengths: the trust and the long-term relationships that we have with our clients, and the high quality and professionalism of our people and services.

“Today we are announcing the next steps in our strategy to enhance our position as a focused, specialist and independent wealth manager. The overall direction and mission we set out three years ago remain unchanged, and we can build on a strong foundation with many elements of our transformation to wealth management now solidly in place. Today, we are moving on to the next stage of our journey to adapt to changing client needs, developments in our industry and challenging economic circumstances.

“The shift from collective to individual wealth creation in the Netherlands is one example of major forces driving our industry. In addition, new technology and digitisation are rapidly changing client requirements. We’re investing in longer-term growth initiatives in order to play into these trends. We will be focusing even more on the activities at the core of our wealth management businesses serving private and institutional clients.

“At the same time, we will continue to simplify processes and look at alternative ways to provide standardised, universal banking services such as payments and mortgage servicing. In that sense, we are moving further away from traditional banking and putting more emphasis on the areas in which we excel and can add real value for our clients.

“With this update we are well positioned to accelerate our growth, improve our returns and enhance our position as the wealth manager of choice for 2020 and beyond.”

Strategy update 2020 (pdf)