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Hauck Aufhäuser Lampe: Dutch ABN AMRO becomes new owner of the private banking house

28. May 2024

Reading time: 4 Minutes

  • ABN AMRO acquires all shares in Hauck Aufhäuser Lampe subject to regulatory approval
  • Combination of Hauck Aufhäuser Lampe with Bethmann Bank creates one of the leading wealth management providers in Germany
  • Luxembourg and Irish subsidiaries HAFS, HAAS and HALFI remain with previous owner Fosun International and pursue independent growth strategy

Frankfurt am Main 28. Mai 2024 – Hauck Aufhäuser Lampe AG ("HAL") will have a new owner with the Dutch banking group ABN AMRO Bank N.V. ("ABN AMRO"), based in Europe and with international reach. ABN AMRO today announced a purchase agreement with Fosun International.

The combination of HAL and Bethmann Bank, ABN AMRO's German wealth management business, will create one of the leading providers in wealth management. The combined entity will have assets under management of around €70bn, making it by far the third largest provider of wealth management solutions in Germany. At the same time, a leading provider of banking services in Germany for family businesses and German SMEs will be created. The comprehensive range of services offered by ABN AMRO Bank N.V. Frankfurt Branch will also expand the services for institutional clients in the areas of asset management and investment banking.

"Hauck Aufhäuser Lampe has written an unprecedented growth story in recent years. Thanks to our dedicated employees and our strong culture of innovation, we are now a leading player in the German private banking market. With ABN AMRO, we now have a strong European owner and are taking the next significant step towards growth. With our activities, we are reaching a scale in which we are clearly expanding our range of services for our clients and creating even greater added value."

Michael Bentlage, CEO of Hauck Aufhäuser Lampe Privatbank AG

Not included in the acquisition are the Luxembourg and Irish subsidiaries of Asset Servicing: Hauck & Aufhäuser Fund Services (HAFS) and its subsidiaries Hauck & Aufhäuser Administration Services (HAAS) and HAL Fund Services Ireland (HALFI). Fosun will retain ownership of the companies, which fit very well into its own asset-light model approach and have clear synergies with its activities in the insurance sector in Europe. Fosun aims to further develop the AIFM/ManCo and fund administration functions and to grow internationally in the future. The focus will continue to be on a one-stop-shop model, including a depositary, across all companies in the future. A cooperation agreement with ABN AMRO has been concluded for this purpose. New opportunities are also being sought in the AIFM/ManCo and fund administration areas.

Hans Hanegraaf, CEO Bethmann Bank and Chief Country Officer ABN AMRO Germany: "Hauck Aufhäuser Lampe with its comprehensive range of services ideally complements and expands ABN AMRO's offering in Germany. I am looking forward to working with the competent teams at HAL and am sure that the cultures of our two banks are a good fit. Together we want to shape the future of banking in Germany."

Following the merger, the new bank will have full access to ABN AMRO's international network and expertise. The banking group, which is also owned by the Dutch state, has around 21,000 employees worldwide.

About Hauck Aufhäuser Lampe Privatbank AG

HAUCK AUFHÄUSER LAMPE can look back on around 230 years of tradition. The company emerged from the merger of three traditional private banks: Georg Hauck & Sohn Bankiers in Frankfurt am Main, founded in 1796, Bankhaus Lampe, founded in Bielefeld in 1852, and Bankhaus H. Aufhäuser, on the market in Munich since 1870. The two banks Georg Hauck and Bankhaus H. Aufhäuser merged in 1998, with Bankhaus Lampe joining in 2021. The bank's Management Board consists of the Chairman of the Management Board Michael Bentlage and the members of the Management Board Oliver Plaack, Madeleine Sander, Dr. Holger Sepp and Gordan Torbica. HAUCK AUFHÄUSER LAMPE sees itself as a traditional yet modern private bank.

The private bank focuses on the four core business areas of private and corporate banking, asset management, asset servicing and investment banking. Its business activities center on comprehensive advice and asset management for private and corporate clients, asset management for institutional investors, comprehensive fund services for financial and real assets in Germany, Luxembourg and Ireland as well as cooperation with independent asset managers. In addition, Hauck Aufhäuser Lampe offers research, sales and trading activities with a specialization in small and mid-cap companies in German-speaking countries as well as individual services for IPOs and capital increases.