November 1, 2020

Kup

News Updates Everyday

Asset manager Van Lanschot Kempen buys Hof Hoorneman Bankiers

Asset manager Van Lanschot Kempen buys Hof Hoorneman Bankiers

Asset manager Van Lanschot Kempen takes over 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 was not disclosed. The supervisory authorities have yet to approve the takeover.

With Hof Hoorneman, founded in 1989, Van Lanschot Kempen brings in assets under management of 1.9 billion euros. The 60 employees also go to the new owner. Van Lanschot Kempen (almost 1,700 employees) manages assets totaling 80 billion euros.

market

Van Lanschot has already taken over asset management from Staalbankiers and UBS in recent years as part of his growth strategy. In the Netherlands, the wealth management market is largely in the hands of the three big banks ABNAmro, ING and Rabobank, as well as Insinger Gilissen and Van Lanschot Kempen. Several dozen small independent asset managers, including Hof Hoorneman, follow some distance from the big parties.

Van Lanschot Kempen has been listed on the stock exchange since 1999 and is considered the oldest independent financial institution in the Netherlands, founded in 1737.

Investors welcome the acquisition. The Van Lanschot share is 1.25 percent higher at 16.16 euros.