Acquisition of HAL completed: ABN AMRO establishes new keyplayer in the German banking market

Press Releases

01/07/2025 • 8 minute read

The conclusion of the transaction creates a new major player in the German wealth management and corporate banking market with a broader product and service offering for customers
Two-brand strategy with “Bethmann HAL” (Wealth Management) and “ABN AMRO” (corporate and institutional banking, including asset servicing)
Strong management team with Hans Hanegraaf as Country Executive and experienced managers in both companies. Michael Bentlage remains CEO of HAL AG
Acquisition supports growth plans in German wealth management: planned increase in assets under management (AuM) to around €100 billion by 2030
Successful asset servicing business of HAL expands the international range of services of ABN AMRO
Legal execution (closing) of the purchase contract concluded in May 2024 took place on 30 June 2025

Frankfurt am Main, 1. Juli 2025 - ABN AMRO Bank N.V. has successfully completed the purchase of Hauck Aufhäuser Lampe Privatbank AG (HAL). In the German banking market, this creates a new keyplayer with a strong European focus: Together with the traditional HAL, ABN AMRO will in future expand its wide range of products and services for wealthy private customers and family businesses as well as for companies, institutional customers and independent external asset managers with around 2,000 employees at 18 locations in Germany and Luxembourg. The purchase contract concluded in May 2024 was legally executed on 30 June 2025 (closing). ABN AMRO now holds 100% of the shares in HAL. The seller was Bridge Fortune, a subsidiary of the Chinese Fosun International Group.¹

Marguerite Bérard, CEO of ABN AMRO Bank N.V., says: “The successful completion of the transaction marks a milestone in our group strategy focused on Northwest Europe. The acquisition will make Germany our second largest market. Together with HAL, ABN AMRO Germany will continue the growth of the past few years. Our claim is clear: We want to play a leading role in the German market as an international bank for wealth management and corporate banking.”

Choy van der Hooft-Cheong, Chief Commercial Officer of Wealth Management of ABN AMRO Bank N.V., adds: “ABN AMRO is already one of the leading names in wealth management in Europe, with group-wide assets under management of around €240 billion. We are further expanding this position together with HAL. Our German and international customers benefit from an improved range of services, a wider range of products and highly personalised customer service in both companies.”

New presence with two strong brands

Three of the four business areas of HAL - Private & Corporate Banking, Asset Management and Investment Banking - will be integrated into the existing structures of ABN AMRO Germany together with the supporting functional areas in order to optimally exploit growth opportunities and unlock potential synergies. The bank thus establishes an important prerequisite for offering private and corporate customers holistic best-in-class solutions. The fourth fast-growing Asset Servicing division with the offer to act as Custodian will remain with HAL AG in the future, which will continue as a subsidiary of ABN AMRO in an independent legal form.

ABN AMRO will continue to pursue a two-brand strategy in Germany. The ABN AMRO brand will in future include all activities in Corporate and Institutional Banking, Capital Market Business and Asset Servicing. The new brandBethmann HAL will represent the joint wealth management of both companies and also include the business with medium-sized corporate customers. The brand strategy thus takes into account the strong wealth management culture in Germany as well as the international corporate and institutional banking.

ABN AMRO expects cost and revenue synergies of at least EUR 60 million per year before tax from 2028 onwards from the planned integration of the described business areas of HAL across all business areas.

Wealth Management on a growth trajectory

After the merger with Assets under Management (AuM) of around €70 billion, Bethmann HAL will be the third largest private bank in Germany. The goal is to increase AuM by 2030 as part of the dedicated growth strategy to around €100 billion. The joint wealth management under the new brand Bethmann HAL combines the centuries-long private bank cultures of both companies and their outstanding expertise in the management of large and complex assets. Bethmann HAL has 17 locations in Germany with more than 200 customer service representatives and is present in all economic centres of the country.

The business with medium-sized corporate customers, which Bethmann Bank has successfully built up as an E&E (Entrepreneur & Enterprise) division in recent years, will be further promoted. HAL has long-standing expertise in asset and financing matters for entrepreneurs and companies and has recently bundled these into the Entrepreneurs growth initiative. The holistic support of entrepreneurs and companies, both with regard to their family as well as their corporate asset situation through integrated teams from Wealth Management and Corporate Banking, represents a unique selling point in the German market in this form.

Wide range of services in corporate banking

Under the ABN AMRO brand, the combined units of both banks in the future will cover the entire range of corporate and institutional banking, asset management and capital market business for large institutional clients and corporate clients. HAL’s broad regional presence in Germany, in combination with ABN AMRO’s large international network, opens up new growth opportunities.

In addition to traditional financing offers, a special focus will also be placed on financing solutions in connection with the transition topics of energy, mobility and digital. The bundling of expertise, skills, licenses, infrastructure and the customer base of both banks in the digital assets sector will enable the combined bank to jointly drive forward its strategic ambitions and establish itself as a recognized innovator in the North-West European market.

Expansion of asset servicing

The asset servicing business of HAL in Luxembourg and Germany will be included in ABN AMRO’s range of services and will be opened group-wide for ABN AMRO customers. In this way, ABN AMRO is establishing a new business area for the Group. The Asset Servicing division includes in particular the Custodian function of HAL for the divisions of Financial Assets, Real Assets and Digital Assets. The bank acts as a comprehensive service partner for its customers with services such as reporting, bridge financing, fund accounting or sales support. Asset servicing has been one of HAL's main growth drivers in recent years. Through ABN AMRO’s international platform and the combination with the global offering of the ABN AMRO Clearing Bank, this business area is to be significantly expanded and the market penetrated more strongly.

After the merger, the asset servicing of HAL will continue to be offered from HAL AG in Germany and from the Luxembourg branch. HAL AG will become a
100% subsidiary of ABN AMRO Bank N.V. This structure ensures stability and continuity of the asset servicing business, including with regard to the agreed cooperation with the units remaining at Fosun.

Strong management team from both companies

ABN AMRO Germany, which has been expanded to include HAL, will be led by an experienced seven-person management team, which will start after the integration under company law has been completed:

Country Executive of ABN AMRO Germany remains Hans Hanegraaf, who also assumes responsibility for Corporate Banking as spokesman of the Executive Board.
As before, Stefan Meine and additionally HAL Executive Board member Oliver Plaack will jointly assume the role of Chief Commercial Officer of Wealth Management (CCO).
HAL Executive Board member Madeleine Sander takes on the new position of Chief Financial Officer (CFO) of ABN AMRO Germany’s Executive Board.
Agnes Brelik will continue to act as Head of Wealth Products.
Michael Pleske remains responsible for risk management (CRO).
Eric van der Deijl, as Chief Operating Officer (COO), will continue to be responsible for all processes and production workflows within ABN AMRO Germany.

Until the integration of both companies, the HAL organisation, which still acts as a separate organisation with its original four business areas, is still managed by today's management team:

Michael Bentlage, Chairman of the Board (CEO)
Oliver Plaack (Chief Market Officer of Private & Corporate Banking)
Madeleine Sander (Chief Growth & Transformation Officer)
Dr Holger Sepp (Chief Market Officer of Asset Servicing & Digital Assets)
Gordan Torbica (Chief Risk & Operation Officer)

Hans Hanegraaf, spokesman for ABN AMRO Germany’s Executive Board, commented: “The merger of the two companies establishes a uniquely positioned bank, determined to play a key role in shaping the future of the German banking sector. Following the successful closing, we can now start with the detailed planning for the integration of HAL. Our aim is to create real added value for our customers with the best possible products and services. Our goal is to complete the integration by the end of 2026 on a corporate law, operational and cultural level. I would like to thank the teams of both companies who have worked hard to achieve this important day for our bank.”

Michael Bentlage, CEO of HAL AG, says: “Hauck Aufhäuser Lampe has demonstrated a remarkable growth story in recent years. Key success factors were our willingness to accept permanent change, our strong culture of innovation and, last but not least, our diversified business model. We operate profitably and have an excellent reputation in the market. This is an ideal starting point for the next chapter in our development: With the acquisition by ABN AMRO and the planned merger with Bethmann Bank, a private bank with historical roots in the main economic regions, with comprehensive expertise in all financial issues and with the international resources of the ABN AMRO Group, is being created. The new bank will actively help shape the private banking market in Germany.”

¹99,7 % Fosun and 0,3 % external third-party shareholders

About ABN AMRO

ABN AMRO is a Dutch bank for retail, corporate and private banking clients with a focus on Northwest Europe. We offer our customers comprehensive – including digital – products and services, as well as in-depth financial know-how and special knowledge in numerous industrial sectors. Headquartered in Amsterdam, ABN AMRO serves approximately six million customers and employs more than 20,000 people worldwide. In Germany, the bank is present through the ABN AMRO Bank N.V. Frankfurt Branch and offers extensive services in Wealth Management (in future via the Bethmann HAL brand and in Corporate Banking. The ABN AMRO Bank N.V. Frankfurt Branch employs around 2,000 people and, in addition to its headquarters in Frankfurt am Main, has 16 other locations in important business centres in Germany. In addition, following the merger with HAL, they are present in Luxembourg.

More at www.abnamro.com, www.hal-privatbank.com