Bank Delen Expands Dutch Presence With Seventh Acquisition

Bank Delen is further expanding its presence in the Netherlands. The Antwerp asset manager is profiling itself in a consolidating sector as a frequent acquirer, a position that is strengthened by the support of its main shareholder Ackermans & van Haaren.

Delen Private Bank enters the Dutch market

Delen Private Bank, the largest independent provider of financial services for wealthy clients in Belgium, is expanding its influence in the Netherlands through the acquisition of Servatus. This asset manager based in 's-Hertogenbosch manages approximately 700 million euros.

Bank Delen states in a press release that this acquisition fits within the growth strategy for the Netherlands. The goal of this strategy is to become a leading player in the Dutch market for asset management. This long-term strategy was started nine years ago by Bank Delen, 78,75 percent of which is owned by the listed investment company Ackermans & van Haaren. Servatus is the seventh Dutch acquisition of the bank. Earlier this year, Delen also acquired the Utrecht asset manager Petram & Co.

Consolidation in the asset management sector

The asset management market is currently undergoing a consolidation phase across most of Europe. Smaller players are not only faced with the wave of new regulations that have been rolled out across the sector in recent years, such as the MIFID consumer directive and the AML regulations to combat money laundering. The rapid digitalisation of the sector is also forcing more and more asset managers to seek economies of scale.

Bank Delen is emphatically positioning itself as an active acquirer, supported by its solid major shareholder. Last year, Delen acquired its Antwerp counterpart Dierickx Leys in Belgium.

In its Dutch division, Bank Delen now manages approximately 4 billion euros. In total, the Antwerp residents manage approximately 70 billion euros, spread across five countries: Belgium, the Netherlands, Luxembourg, Switzerland and the United Kingdom.