Dutch wealth management firm Van Lanschot Kempen has completed the acquisition of UBS’ wealth management activities in the Netherlands.
The deal, announced in June 2017, adds nearly €2.6bn in assets, client relationships, employees, services and products of UBS Netherlands, which is a branch of UBS Europe.
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Van Lanschot Kempen chairman of executive board Karl Guha said: “This acquisition represents a step-change in our positioning and profile in the top-end of the wealth management market. Welcoming on board as new colleagues 35 UBS professionals greatly enhances our position as a distinctive wealth manager.”
The two parties have also inked a cooperation agreement, under which Van Lanschot Kempen will gain access to UBS wealth management research and selected UBS products and services.
UBS head of wealth management Luxembourg Rene Mottas said: “UBS remains committed to the Dutch offshore wealth management market and we will continue to serve our cross-border clients out of the key hubs Luxembourg and Switzerland.”
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