Asset manager Van Lanschot Kempen acquires Hof Hoorneman Bankiers. With the purchase of this small asset manager, Van Lanschot wants to become bigger and stronger and benefit from economies of scale. The purchase amount has not been disclosed. The regulators still have to approve the takeover.
With Hof Hoorneman, founded in 1989, Van Lanschot Kempen brings in 1.9 billion euros in assets under management. The 60 employees will also go to the new owner. Van Lanschot Kempen (nearly 1,700 employees) manages a total of 80 billion euros in assets.
market
As part of its growth strategy, Van Lanschot has already taken over the asset management activities of Staalbankiers and UBS in recent years. In the Netherlands, the asset management market is largely in the hands of the three major banks ABNAmro, ING and Rabobank, and by Insinger Gilissen and Van Lanschot Kempen. Several dozen small independent asset managers, including Hof Hoorneman, follow at a distance from the large parties.
Van Lanschot Kempen has been listed on the stock exchange since 1999 and is said to be the oldest independent financial institution in the Netherlands, founded in 1737.
Investors welcome the acquisition. The Van Lanschot share is listed 1.25 percent higher at 16.16 euros.
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