02 January 2017
The acquisition of Insinger de Beaufort by KBL European Private Bankers (KBL epb), parent of Theodoor Gilissen Bankiers, has successfully closed. This follows approval of the transaction by all relevant stakeholders, including the Dutch Central Bank and European Central Bank.
Theodoor Gilissen Bankiers and Insinger de Beaufort are now a significant step closer to their proposed merger of equals, anticipated to take place in mid-2017. Reflecting the rich traditions of both Dutch private banks, the combined entity will be called “InsingerGilissen.”
Yves Stein, Group CEO of KBL epb, said: “We are very pleased to announce the closing of this important transaction, which will open new doors of opportunity for the clients and staff of Theodoor Gilissen Bankiers and Insinger de Beaufort.
The proposed merger of Theodoor Gilissen Bankiers and Insinger de Beaufort remains subject to approval by relevant regulatory authorities and other stakeholders, as well as the advice of works councils. Until the merger is approved, the two organizations will continue to operate independently.