Independent wealth manager Van Lanschot Kempen, which is one of the oldest financial institutions in the Netherlands, has agreed to acquire all the shares of Hof Hoorneman Bankiers.
The terms of the deal were not disclosed and the acquisition is subject to regulatory approvals.
Hof Hoorneman offers private banking, online wealth management and settlement-only services.
It holds €1.9bn (£1.7bn, $2.3bn) in client assets and also manages a number of its own investment funds, in which mostly its own clients invest.
Preserve and create wealth
Karl Guha, chairman of Van Lanschot Kempen, said: “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.”
He added that “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, said: “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.
He continued: “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.”