Dutch wealth manager Van Lanschot Kempen is set to acquire independent asset manager Hof Hoorneman Bankiers, subject to regulatory approval.

The transaction should only have a minor impact on Van Lanschot Kempen’s capital ratio and is expected to be completed by the end of 2020.

With €1.9 billion in client assets, Hof Hoorneman Bankiers offers private banking, online wealth management and settlement-only services. It also manages a number of investment funds in which mostly its own clients invest.

Karl Guha, chairman of Van Lanschot Kempen, said: “We are absolutely delighted with this acquisition, which ...