KAS BANK N.V. advances its European growth with strategic acquisition in German institutional market
Press release 1 July 2008
In pursuit of its strategy for growth in Western Europe, KAS BANK N.V. has made a significant acquisition in Germany. KAS BANK’s exclusive talks with Delta Lloyd Deutschland AG have resulted in the acquisition of Delta Lloyd Investment Managers GmbH. With this acquisition KAS BANK advances its growth in Western Europe.
Albert Röell, Chairman of KAS BANK’s Managing Board
"Germany has always been high on our list. We are delighted that our plans to take over Delta Lloyd Investment Managers, fitting perfectly our growth strategy in Europe, have succeeded. The combination of KAS BANK’s independent position and local expertise represents a major advance for the German institutional market."
Christof W. Göldi, CEO of Delta Lloyd Deutschland AG "We are pleased that we are now able to extend the successful co-operation of our Dutch parent company with KAS BANK to Germany as well. The sale of our fund administration activities is part of our strategy, resulting in a leaner organization, outsourcing non core activities to reliable partners such as KAS BANK and making increased use of the synergies and comprehensive resources within Delta Lloyd Group. The asset management and portfolio management for our Dachfonds and our Superfonds funds will continue to be provided by Delta Lloyd Deutschland AG after the sale."
For many years, KAS BANK’s growth strategy has been underpinned by a combination of solid revenue and profit growth and a low risk profile. Our ongoing expansion in Europe is built on our strong position in the Netherlands and the United Kingdom and the new German office we opened in Frankfurt last year.
Our highly trained 800-strong international team, on which more than thirty nationalities are represented, has extensive knowledge and experience of the European securities industry. As well as growth in our home markets in the Netherlands, Germany and the UK, we are actively seeking to expand in the rest of Europe. The acquisition of Delta Lloyd Investment Managers GmbH in Germany is an excellent example of our strategy.
Banks, brokers and institutional investors in the rest of Europe are coming increasingly to appreciate the strength of our efficient European platform and the advantages of our position as a neutral and independent ‘pure play’ securities bank.
KAS BANK’s neutrality and independence and its unique position in Europe were instrumental in Delta Lloyd Deutschland AG’s decision to talk exclusively with KAS BANK on the takeover of Delta Lloyd Investment Managers GmbH. KAS BANK’s aim is to advance its position as an independent specialist in securities services. Delta Lloyd Investment Managers GmbH, which like Delta Lloyd Deutschland AG has its head office in Wiesbaden (near Frankfurt), will be integrated into KAS BANK and will retain full responsibility for relationship management, growth of the client base and day-to-day securities services for its clients. The company will remain in Wiesbaden and operate under the new name KAS Investment Servicing.
Albert Röell, Chairman of KAS BANK's Managing Board:
"Fund administration and fund reporting services are a specialism, to be executed by pure neutral specialists. KAS Investment Servicing offers an excellent platform for the German fund administration activities of institutional investors ."
KAS BANK's strategyKAS BANK has evolved in recent years into an independent European ‘pure play’ specialist in wholesale securities services. As such, it has excellent prospects for further growth because our clients – including banks, brokers, asset managers, pension funds and charitable institutions – are increasingly demanding neutrality and objectivity in the services they use.
Our operational systems and business model have been configured to support continued growth in Europe. With the European capital market consolidating and becoming increasingly professional, KAS BANK’s forward-looking model, which is unique in Europe, is paying dividends.
Increasing complexity, driven partly by product innovation and new compliance and reporting rules, is creating a growing demand for outsourcing. For institutions considering outsourcing their asset management and securities services to third parties, it is vitally important that the parties they retain provide not only continuity, but also the assurance that they are not direct competitors in related areas such as asset management and financing.
KAS BANK, as a neutral player, can provide that assurance, which is why our neutrality is essential to our future growth. From investment administration and risk reporting to trade execution and settlement, there is a growing shift towards neutral specialists such as KAS BANK. The acquisition of Delta Lloyd Investment Managers GmbH should also be seen in that light.
As well as consolidation, there is also a clear trend towards further professionalisation throughout the European securities industry. With our expertise in added-value services, such as investment administration and independent valuation, transition management and overlay services, and our high-quality back-office services, KAS BANK is in an excellent position to support the market in this process. Our understanding of our clients’ needs and our in-depth knowledge of local regulations and practices are a first-class basis for further insourcing by KAS BANK of investment administration and other forms of securities service.
Profile KAS BANK N.V.KAS BANK is a European specialist in wholesale securities services. As an independent bank, we connect professional financial institutions both within Europe and across the globe. We focus on providing added-value services to national and international organizations active in the pensions and securities industries.
We view the market from the perspective of our clients – tailor-made services and complete transparency are paramount in helping them to meet their business objectives.
Profile Delta Lloyd Delta Lloyd Deutschland is a wholly owned subsidiary of Delta Lloyd Group, Amsterdam, which is in turn part of the UK-based Aviva Group. The company offers an extensive range of financial, investment and pension products etc. along with professional advice on all financial matters.
In addition to life insurers Delta Lloyd Leben and Hamburger Leben, a pension fund and a financial consultancy for company pension plans and a banking arm specializing in private banking, Delta Lloyd Group in Germany also includes Delta Lloyd Investment Managers GmbH as well as an investment property company and a mortgage broker.
ContactKAS BANK N.V.
Marketing & Communication
Hellen Molenkamp
Spuistraat 172
1012 VT Amsterdam
Telephone: +31 20 557 54 29
Email:
hellen.molenkamp@kasbank.comDelta Lloyd Deutschland AG
Presse- und Öffentlichkeitsarbeit
Martina Faßbender
Wittelsbacherstraße 1
65189 Wiesbaden
Telephone: +49 611 773 25 71
Email:
martina.fassbender@deltalloyd.de