ABN Amro strengthens presence in Germany through acquisition of Hauck Aufhäuser Lampe

As part of its strategic expansion, the Dutch bank ABN Amro has secured the private banking institution Hauck Aufhäuser Lampe, significantly intensifying its market position in Germany. For a preliminary sum of 672 million euros, the bank with a long-standing tradition will move from the Chinese Fosun Group to the Dutch. Through the merger with Bethmann Bank, which is already in its portfolio, ABN Amro is aiming to increase its local assets and now positions itself as the third-largest entity for affluent private clients in Germany. ABN Amro CEO Robert Swaak expressed optimism regarding the acquisition and emphasized the importance of the German market for the company. With the forthcoming combination of Bethmann Bank and Hauck Aufhäuser Lampe, a new financial entity will emerge, boasting managed assets of nearly 70 billion euros. In addition to its core business of wealth management, ABN Amro is also expanding its activities in the area of fund investments and corporate client services. It is important to note that the Luxembourg and Irish subsidiaries of Hauck Aufhäuser Lampe, which are specialized in asset servicing, will remain owned by Fosun and are not part of the acquisition agreement. The institution, originally founded in 1796, was acquired by Fosun in 2015 and expanded its portfolio in 2021 with the addition of Bankhaus Lampe. In light of ambitious consolidation efforts, Fosun is currently selling several holdings to reduce debt burden. The final settlement of the acquisition is expected by ABN Amro for the first quarter of 2025.