Van Lanschot Kempen (VLK), one of the Netherlands’ oldest private wealth managers, has selected BNP Paribas Securities Services to provide custody services for its subsidiary, Kempen Capital Management.
As part of the agreement, BNP will also provide Kempen Capital Management with depositary bank, fund accounting, regulatory reporting, collateral management and foreign exchange services.
The mandate, which covers fund ranges in Luxembourg and the Netherlands, represents €6 billion in assets.
VLK is a specialist independent wealth manager dedicated to preserving and creating wealth for its clients sustainably.
In addition, VLK has consolidated a range of services with BNP Paribas Securities Services across its wealth management and brokerage activities.
This includes global custody, local custody and clearing services for cash equities and exchange traded derivatives. The mandate represents €10 billion in assets.
Ernst Jansen, managing director at Van Lanschot Kempen and COO of Kempen Capital Management, says: “BNP Paribas has a strong track record in Luxembourg and the Netherlands with a pan-European network for our wealth management and brokerage activities and specialist offering dedicated to private capital investments, a key growth area for Kempen Capital Management.“
Mark Schilstra, head of the Netherlands and Nordics at BNP Paribas Securities Services, comments: “This partnership highlights our strong position in the Luxembourg and Dutch market and our ability to deliver operational innovation and cross asset-class services to the different business lines of the Van Lanschot Kempen group. We look forward to building on our long-term partnership with Van Lanschot Kempen.”
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