BUX, is set to be acquired by ABN AMRO Bank N.V. Through this acquisition, ABN AMRO hopes to significantly improve its digital offering and solidify its position in the retail investment market.
BUX was established in 2013 and serves 500,000 clients in eight markets.
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Modern financial technology, an easy-to-use platform, and a brand that appeals to a younger generation of investors are all provided by BUX. With this acquisition, BUX advances ABN AMRO’s goal of pan-European expansion.
Annerie Vreugdenhil, ABN AMRO’s chief commercial officer personal & business banking stated: “It’s a lot more common now for people to start thinking well ahead about their financial future and to take control of it themselves. Over the past few years, BUX has excelled in helping clients who want to do exactly this. Welcoming BUX into the ABN AMRO family will create a unique combination of innovative user-friendliness and financial strength, stability, and expertise – a powerful foundation for future growth (in the private investment domain), both for our clients and for the bank itself.”
Yorick Naeff, CEO of BUX added: “We’ve always had the ambition to be the leader in Europe’s retail investment arena, and joining forces with ABN AMRO is a crucial stride towards achieving this goal. We strongly believe that at BUX, our speed, agility, and relentless drive for innovation, merged with ABN AMRO’s deep expertise in personal finance and decades-long reputation, form a synergy unparalleled in the entire investment sector. This powerful combination positions BUX ideally to become a leading investment platform across Europe for everyone looking to grow their wealth for the future.”
Collaboratively, BUX and ABN AMRO present an alluring assortment of savings and investment options, catering to first-time investors seeking to acquaint themselves with the world of investments as well as seasoned clients with more extensive investment portfolios seeking guidance to reach their objectives.
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By GlobalDataFurthermore, ABN AMRO hopes to assist its clients in becoming their best selves in all facets of life. With ABN AMRO’s extensive resources and infrastructure supporting BUX, this move is an extra investment that will allow for ambitious future scaling and innovation.
The transaction is anticipated to be completed in 2024, pending regulatory approval.
