The merger will create a leading private bank in Germany
The new bank will combine the names of both entities
Market presence strengthened in the four business segments Private Banking, Asset Management, Asset Servicing and Investment Banking
Extended range of services and broader market presence due to complementary products and branch networks
Bielefeld / Frankfurt am Main, March 5, 2020 – Hauck & Aufhäuser has reached an agreement with the Oetker Group on the acquisition of Bankhaus Lampe. The merger of the two traditional banks will create one of the leading private banks in Germany with around 1,400 employees, EUR 35 billion assets under management, EUR 135 billion assets under custody and a balance sheet total of almost EUR 10 billion. The combined company will strongly operate in the four business segments Private Banking, Asset Management, Asset Servicing and Investment Banking. The closing of the transaction is subject to the approval of the regulatory authorities. The names of the two companies will also be jointly redefined after the merger.
Hauck & Aufhäuser and Bankhaus Lampe are connected by their long and successful history. The merger combines the expertise of both parties enabling each business area to further expand the strong market positions in all business areas. "This merger is a significant step forward in Hauck & Aufhäuser's growth strategy. Together with Bankhaus Lampe, we are reinforcing our existing business areas. The customers of both companies will benefit from a high-quality and broad range of investment-related services," explains Michael Bentlage, CEO of Hauck & Aufhäuser.
"As a joint company, the trustful and sustainable relationship with our clients continues to be our top priority. Together we are more strongly positioned to shape the future of the market for private banks," states Klemens Breuer, Chairman of the Management Board of Bankhaus Lampe. "We are pleased to have found in Hauck & Aufhäuser the right partner for the long-term growth of Bankhaus Lampe. The combined entity will hold a strong position in the German banking landscape," adds Dr. Heino Schmidt, CFO of Dr. August Oetker KG.
Both banks are highly complementary and have branch networks and products that perfectly align with each other. The combination will enable all business units to benefit from an even more comprehensive product range and a broader market presence. The signed purchase agreement includes the acquisition of all shares in Bankhaus Lampe KG, which will be completed after all approvals of the supervisory authorities have been obtained. This involves a comprehensive takeover and integration of all employees, subsidiaries, clients and branches. The cultural similarity of the two traditional private banks will facilitate the merger.
In 2017, Hauck & Aufhäuser had already successfully acquired and integrated Sal. Oppenheim jr. & Cie. Luxembourg S.A. and Oppenheim Asset Management Services S.à r.l.. In addition, Hauck & Aufhäuser acquired a majority stake in the Irish Crossroads Capital Management Limited in 2019.
More Information can be found here.
About Hauck & Aufhäuser
Hauck & Aufhäuser is looking back on a tradition of 224 years.. The bank was created through the merger of two highly traditional private banks: Georg Hauck & Sohn Bankiers, founded in Frankfurt am Main in 1796, and Bankhaus H. Aufhäuser, on the market in Munich since 1870. The two banks merged in 1998. The Management Board of the bank comprises the Chairman, Michael Bentlage, and the Management Board members, Dr. Holger Sepp and Robert Sprogies. Hauck & Aufhäuser considers itself to be both a highly traditional and, at the same time, a highly modern private bank.
From its corporate locations in Frankfurt am Main, Munich, Hamburg, Düsseldorf, and Cologne, the bank focuses on delivering holistic advisory and management services to its private and corporate clients, managing the assets of institutional investors, providing comprehensive fund services for financial and real assets in Germany, Luxembourg and Ireland, as well as the successful cooperation with independent asset managers. In addition, we offer research, sales and trading activities specializing in small and mid-cap enterprises in German-speaking countries as well as tailored services for IPOs and capital increases. The main focus of our business activities is on providing holistic and personal advice as the basis for developing tailored solutions.
About Bankhaus Lampe
With a group business volume of € 3.1 bn and assets under management worth more than € 19.1 bn, Bankhaus Lampe is one of the leading and few independent private banks in Germany. The Bank was founded in 1852 and today is part of the Oetker group. Its headquarters are located in Bielefeld and the head office is in Dusseldorf. There are further branch offices and subsidiaries in key locations throughout Germany as well as in London, New York and Vienna. The Bank’s spectrum includes the two business areas of asset management and private & corporate client business as well as capital market and corporate finance. Our clients include wealthy private investors, medium-sized enterprises, institutional investors, and major corporations.
Responsible management, independence and integrity shape the actions of this traditional institution. This creates an ideal environment for long-term and trusting business relationships. We strive to deliver the best performance and act to the benefit of our clients at all times. The Bank finds individual solutions for its clients, always tailored to meet their respective requirements. In addition, its products and services offer a maximum of transparency and consistency. With its broad range of services and profound expertise, Bankhaus Lampe is equal to the challenge of complex matters and meets them with all due confidentiality.
About Dr. August Oetker KG
The Oetker Group is one of the largest family-owned companies in Germany: broad diversification in five business segments with a total of more than 300 companies characterizes the internationally active company, which has now been in existence for more than 125 years:
With its Food Divisions (Dr. Oetker, the Martin Braun Group and Conditorei Coppenrath & Wiese), beer and non-alcoholic beverages (Radeberger Gruppe with brands such as Radeberger, Jever and Original Selters), sparkling wine, wine and spirits (Henkell Freixenet with brands such as Henkell Trocken, Freixenet, Fürst von Metternich, Mionetto, Deinhard and the spirits brand Wodka Gorbatschow), Bank (Bankhaus Lampe) as well as Other Interests (Chemische Fabrik Budenheim, luxury hotels, data and information processing, procurement services and logistics), the group of companies not only has a broadly based and efficient product and service portfolio, but also sets out to actively shape and develop its markets.
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