Published: 8.00 CET
Van Lanschot Kempen and Hof Hoorneman Bankiers’s shareholders today reached agreement on the acquisition by Van Lanschot Kempen of all shares in Hof Hoorneman Bankiers.
With €1.9 billion in client assets, Hof Hoorneman Bankiers offers private banking, online wealth management and settlement-only services as its core activities. It also manages a number of own investment funds in which mostly its own clients invest.
Karl Guha, Chairman of Van Lanschot Kempen, said: “We are absolutely delighted with this acquisition, which is an excellent fit with our growth strategy. Hof Hoorneman Bankiers boasts a distinctive position in the market and offers a good fit in terms of client mix, investment policy, corporate culture and personal approach. This transaction will help us grow our client assets by €1.9 billion. There are also major synergies to be had and we see potential for future growth. Through their current trusted Hof Hoorneman Bankiers bankers, the clients will gain access to a broader offering of products and services for the preservation and creation of their wealth.”
Jaco Aardoom, Managing Director of Hof Hoorneman Bankiers, added: “In Van Lanschot Kempen we have found a Dutch specialist wealth manager to provide management and guidance to our clients. Hof Hoorneman Bankiers’s activities offer a logical and natural fit with Van Lanschot Kempen, leading me to expect a very smooth transition for our clients. In fact, Van Lanschot Kempen has a broader array of products and services to offer, including investment advice, financial planning and mortgages. We are convinced that this decision is in the interest of both our clients and our people. Aligning with a larger specialist private banking player will enable them to tap into lots of opportunities for their further development.”
The transaction is subject to regulatory approval of the proposed takeover and integration of Hof Hoorneman Bankiers into Van Lanschot Kempen.
The transaction is expected to have only a minor impact on Van Lanschot Kempen’s capital ratio and should be completed by the end of 2020, subject to the conditions already mentioned.
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