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November 10, 2017

InsingerGilissen to take over Lombard Odier’s Dutch private banking operations

InsingerGilissen, the Dutch private banking unit of KBL European Private Bankers (KBL epb), has agreed to acquire the Lombard Odier’s Dutch private banking business for an undisclosed sum.

InsingerGilissen oversees €25bn in assets and has 325 employees. The acquisition will add €1bn in assets to its books.

As part of the deal, Lombard Odier’s 12 Amsterdam-based employees will join InsingerGilissen.

The transaction is expected to be wrapped up in mid-2018, subject to regulatory approval.

InsingerGilissen CEO Peter Sieradzki added: “The proposed transaction is in line with our strategy to strengthen and deepen our position as a leading Dutch private bank. At InsingerGilissen, our enduring priority is to provide personalised, high-quality service to every client, every step of the way.”

Lombard Odier head of European private banking business Henry Fischel-Bock added: “This transaction will have no impact on Lombard Odier Investment Managers’ longstanding presence in and commitment to the Netherlands, which will remain unchanged going forward.”

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