Zinger Key Points
- ABN Amro is close to acquiring HSBC's wealth management unit in Germany, expanding into the country's wealth management market.
- The takeover could be announced within two to three weeks, following ABN Amro's recent purchase of Hauck Aufhaeuser Lampe for $730 million.
- Get the Real Story Behind Every Major Earnings Report
ABN Amro BK N V AAVMY is reportedly nearing a deal to buy HSBC Holdings plc‘s HSBC wealth management unit in Germany.
The transaction would extend ABN Amro’s expansion into Germany, Europe’s largest wealth management market, following last month’s EUR672 million euro ($730 million) purchase of Fosun’s private bank Hauck Aufhaeuser Lampe, reported Reuters citing the newspaper Boersenzeitung.
As per the report, the takeover of the business, formerly known as Trinkaus & Burkhardt, could be announced within the next two to three weeks.
HSBC is aiming to further overhaul its German operations and ABN stated it is focused on integrating Hauck Aufhaeuser Lampe and obtaining regulatory approval, as per the report.
Also Read: HSBC To Announce New CEO By July To Stabilize Asia-Focused Strategy
HSBC Holdings stock gained 14% in the last 12 months. Investors can gain exposure to the stock via the Dimensional International Value ETF DFIV and Trust For Professional Managers ActivePassive International Equity ETF APIE.
Price Action: HSBC shares are up 1.13% at $43.99 premarket at the last check Monday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock
© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
