NautaDutilh advised Lombard Odier (Europe) S.A. - a Luxembourg entity - on the sale of the private banking business and wealth management service activities for the private banking clients in the Netherlands to InsingerGilissen Bankiers N.V.
It concerns a cross-border asset and liability transaction, whereby the individual contracts are transferred to the buyer (the recently merged bank InsingerGilissen). In a private banking and wealth management business, it goes without saying that it is a matter of personal relationships. This requires a close connection between the legal issues and the commercial and personal aspects. That complexity makes it more interesting.
Completion of the transaction is expected medio 2018, which should allow parties plenty of time to prepare the transfer of both clients and Lombard Odier employees to InsingerGilissen, and to complete the integration and migration process.
This is the third recent private banking deal that NautaDutilh was involved in over the past twelve months. In December 2016 we advised Staalbankiers/Achmea on its divestment of private banking and wealth management activities and in June this year we advised Van Lanschot Kempen on its acquisition of UBS's domestic wealth management activities in the Netherlands.
NautaDutilh Team: Lieke van der Velden, Edger Kleijer, Jacqueline Clement and Esmée Salomons (Corporate M&A), Jasha Sprecher and Larissa Silverentand (Regulatory), Frederike Manzoni, Pedro Paraguay and Tom Vincken (Taxation), Jad Nader (Regulatory Luxembourg) and Gijs van Nes (Employment).
Read more in the press:
M&A Community (available in Dutch)
Financieel Dagblad (available in Dutch)
Telegraaf (available in Dutch)