Bids are being requested for the biggest global private banking business to come on to the market in recent years, the EUR 200 billion private client assets operation of ABN AMRO.
It includes two prized private banks in Europe, Germany’s Delbrueck Bethmann Maffei and Banque Neuflize OBC of France owned by ABN, as the beleaguered Fortis tries to extract itself from much of its deal for the Dutch bank.
Together, these two banks alone have some EUR45-50 billion under management and would give an acquire a powerful springboard in continental European wealth management.
In addition, ABN has a powerful position in the key Asian wealth management sector, managed by the highly-regarded Barend Janssens out of Singapore. ABN had $20 billion of client assets under management in Asia at the end of last year – versus $11 billion for Fortis Private Banking.
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