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June 8, 2017

Van Lanschot Kempen to buy UBS’ Dutch wealth business

Dutch wealth management firm Van Lanschot Kempen has agreed to acquire wealth management activities of UBS in the Netherlands.

Van Lanschot will initially pay €28m for the deal. The final deal price will be determined based on the AuM amount actually transferring to Van Lanschot.

The deal will add €2.6bn in assets, client relationships, employees, services and products of UBS Netherlands, which is a branch of UBS Europe.

Post completion of the transaction, which is expected in the third quarter of 2017, UBS will provide its wealth management research and selected products and services to Van Lanschot customers.

UBS head wealth management Benelux 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 going forward.”

“Our investment banking and asset management businesses in the Netherlands are not affected by this transaction.”

Van Lanschot executive board chairman Karl Guha added: “The combination of the activities of UBS and our own Private Banking proposition for this segment, supported by the institutional capabilities of Kempen Capital Management results in a unique proposition for family offices, foundations & charities and ultra-high net worth private individuals.”

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