Bethmann Bank, a Frankfurt-based private bank, is planning to expand its existing range of services to independent asset managers (external asset managers-EAM).
The bank is planning to provide its EAM activities independently by creating a new unit, which will be operated from its private banking business by the end of this year.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
Subject to customary closing conditions, Bethmann Bank is set to acquire Credit Suisse’s private banking activities in Germany during the course of this year.
The proposed service will mainly focus on solid contacts and a specialized service portfolio that consists of relationship management, customer care and investment advisory.
Additionally, the bank is also planning to offer powerful technological capacities that facilitate handling of the daily business significantly for external asset managers.
Michael Arends, member of the board of Bethmann Bank AG, said: "The proposed transaction provides for us the unique opportunity to greatly expand our offerings for independent asset managers and as one of the leading suppliers to position ourselves for these services in Germany.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData"At the same time we are taking a further step towards the most powerful partner for wealthy clients, regardless of which model of care they choose. In the future, independent asset managers from the experience and expertise of our teams as well as EAM an efficient infrastructure to benefit," he added.
