The acquisition of HAL will strengthen our top 3 position in wealth management in Germany, the largest private banking market in Europe, with combined Assets under Management of around EUR 70 billion. HAL's private banking activities and German footprint are highly aligned and fit extremely well with ABN AMRO's existing client base and geographical coverage. The transaction will strengthen our Wealth Management, Asset Management and Entrepreneur & Enterprise (E&E) activities. In addition, ABN AMRO enters the asset servicing business, offering custody services, especially for illiquid assets. While Bethmann Bank is one of the largest private equity providers for high net worth clients, HAL has made a name for itself among institutional investors and asset managers with its One Stop Shop, Depository Solutions and Asset Servicing. This complementary offering will be available to all clients in the future. Furthermore, HAL's Investment Banking services will join forces with ABN AMRO Germany to complement our Corporate Banking ambition in Northwestern Europe.
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ABN Amro Bank NV published this content on 28 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 May 2024 12:20:27 UTC.