KBL European Private Bankers (KBL epb), based in Luxembourg, announced on April 12 the signature of a preliminary agreement for the purchase of Insinger de Beaufort, a leading Private Bank in the Netherlands, to BNP Paribas Wealth Management.
The merged entity, whose assets under management exceed € 20 billion, will become one of the strongest 'pure play' private banks of the Netherlands.
With this acquisition, the third for the Group in 18 months - KBL confirms its long-term development strategy that targets organic, semi-organic and external growth.
KBL is installed since 1996 in Monaco. Its customers are international, from more than 50 nationalities: Anglo-Saxons, Germans, Italians, Spaniards ... They reside in the Principality or the French Riviera but also in their countries of origin, often with a second home in the area, and usually enjoy very high incomes.
