Voices from the press conference on the takeover: ABN Amro completes the purchase of Hauck Aufhäuser Lampe

ABN Amro has completed the acquisition of Hauck Aufhäuser Lampe (HAL). The Dutch bank announced that the transaction was legally completed on June 30. ABN Amro now holds 100 percent of the shares in the German private bank. The seller was Bridge Fortune, a subsidiary of the Chinese Fosun International Group.

The bank intends to operate under two brands in Germany in the future. ABN Amro will handle its corporate banking and capital markets business, as well as asset servicing. For the latter, HAL CEO Michael Bentlage stated at a press conference that a long-term cooperation exists with ABN Amro's Luxembourg subsidiaries.

The new brand "Bethmann HAL" will take over asset management and business with medium-sized businesses. With assets under management (AuM) of €70 billion, Bethmann HAL will become the third-largest private bank in Germany.

Millions in synergies, 2,000 employees and 18 locations

ABN Amro expects the integration to generate annual pre-tax synergies of at least €60 million starting in 2028. Following the merger, the bank will employ approximately 2,000 people at 17 locations in Germany and one in Luxembourg. The integration is expected to be completed by the end of 2026, with both ABN Amro and HAL citing their positive experience in integrating other banks in the past.

Until then, the HAL management board members will initially remain in place, explains Choy van der Hooft-Cheong, Chief Commercial Officer Wealth Management and member of the ABN Amro Group Management Board. Bentlage will therefore continue to lead HAL as Managing Director, while Hans Hanegraaf will remain Country Executive of ABN Amro Germany.

Hanegraaf adds that detailed planning for the integration, which is scheduled to be completed by the end of next year, can only begin once the acquisition has been legally completed. He and Bentlage emphasize that ABN Amro's range of management services will be broadened – partly through the complementary offerings in asset management.