ABN AMRO Private Banking has signed a deal
with Lyxor Asset Management, a subsidiary of rival
Société Générale, that will see the Dutch state-owned bank offer
its clients hedge fund products.
The deal enables the bank, which has €150bn
($209bn) of total assets under management, to tap Lyxor’s selection
of hedge fund products including multi manager products both
offshore and in UCITS III format within the European Union.
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The bank said the partnership will
“significantly” strengthen the bank’s offering to its 120,000 high
net worth clients in Belgium, Germany, France, Switzerland,
Luxembourg, Hong Kong and Singapore, and the Netherlands.
Increasing client demand
“Our clients increasingly demand a broad
spectrum of hedge fund investment opportunities and this
partnership provides them with direct access to a comprehensive
range of solutions from one of the strongest and most consistent
performers in the industry,” said Richard Bruens, head of products
and solutions at ABN AMRO Private Banking.
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By GlobalDataABN AMRO rekindled its position as a major
private banking player in late 2008, after a Dutch government
bail-out revived it as a Dutch financial services
brand.
