On 1 April 2007, the transfer of the private banking activities of KAS BANK to Nachenius Tjeenk has been completed, following the approval of the Dutch Central Bank. The transaction involved the transfer to Nachenius Tjeenk of about EUR 750 million previously under management of KAS BANK. Nachenius Tjeenk also acquired Associatie Cassa, the company within KAS BANK which provided fiduciary services to private banking clients.
For Nachenius Tjeenk the acquisition represents an important step in its development strategy to reach EUR 2.5 billion in assets under management. With the acquisition of the private banking activities of KAS BANK, Nachenius Tjeenk confirms its position as one of the leading platforms in the Netherlands exclusively dedicated to private banking services.
For KAS BANK the transfer is a strategic choice enabling the bank to focus entirely on its European wholesale activities for professional parties, in particular institutional investors and financial institutions. KAS BANK’s advisor in this transaction was Holland Corporate Finance.
About KAS BANK
KAS BANK (www.kasbank.com) is a solid and specialist European securities bank providing a wide range of securities and investor services to institutional investors and financial institutions. KAS BANK is listed on Euronext Amsterdam. It has offices in Amsterdam, London and Frankfurt. KAS BANK is incorporated in 1806 and celebrated its bicentenary in 2006.
About Nachenius Tjeenk
Founded in 1790, Nachenius Tjeenk (www.nt.nl) is a renowned bank with a long tradition in the field of private banking in the Netherlands and, like KAS BANK, has its headquarters in the centre of Amsterdam. Nachenius Tjeenk is, since 2005, the Dutch subsidiary of BNP Paribas Private Bank (www.privatebank.bnpparibas.com), the private banking arm of BNP Paribas which ranks among the top ten players world-wide in the field of private banking, managing approximately EUR 140 billion on behalf of its clients and having operations in more than 30 countries.
About BNP Paribas
BNP Paribas (www.bnpparibas.com) is a European leader in banking and financial services, and ranks among the world’s top 15 banks by market capitalization. It has around 140 000 employees, 110 000 of whom are based in Europe. The group occupies leading positions in three significant fields of activity: Corporate and Investment Banking, Asset Management & Services and Retail Banking. It is present in 85 countries and has a strong presence in all the key financial centres. Present throughout Europe, in all its business lines, France and Italy are its two domestic markets in retail banking. BNP Paribas enjoys a significant and growing presence in the United States and leading positions in Asia and in emerging markets.