Van Lanschot

Van Lanschot N.V.
Public
Traded as Euronext: VLK
Industry Financial services
Founded 1737 (1737)
Headquarters 's-Hertogenbosch, Netherlands
Key people
  • K. Guha (CEO)
  • W. Duron (Chairman of Supervisory Board)
Products Banking
Revenue €514.8 million (2017)[1]
€94.9 million (2017)[1]
Number of employees
 1,658 (2017)[1]
Website
Office in 's-Hertogenbosch, Leonardo da Vinciplein

Van Lanschot NV (the holding company of F. van Lanschot Bankiers NV) is a financial institution of Dutch origin offering private banking, asset management and merchant banking services. It is the oldest independent bank in the Netherlands with a history dating back to 1737. Van Lanschot positions itself as a specialised, independent wealth manager focussing on extremely wealthy individuals. Van Lanschot is dedicated to the preservation and creation of wealth for its clients.

Van Lanschot has been listed on the Euronext Amsterdam stock exchange since 1999.

History

The history of Van Lanschot Bankiers dates back to 1737, when Cornelis van Lanschot founded a trading house in 's-Hertogenbosch.

From the bank's origins in 1737 until the death of Jan Cees van Lanschot in 1991, a member of the Van Lanschot family was CEO of the bank. From 1991 to 2002 Bert Heemskerk was CEO. In 2002 he was succeeded by Floris Deckers. In 2013 Karl Guha became CEO.

In 1973, National Westminster Bank acquired a minority interest in the parent Van Lanschot's Beleggings-Compagnie. From the early 1990s, until it sold its interest in 1994, NatWest was the majority shareholder.

In 2004 Van Lanschot acquired CenE Bankiers (financial services for the healthcare sector)[2] and in 2007 Van Lanschot acquired Kempen & Co.[3]

The family Van Lanschot married with some members of the noble family van Meeuwen.

Brands and services

Van Lanschot offers private banking, asset management and merchant banking services.

Private Banking

Van Lanschot’s services focus on six target groups: high-net-worth individuals, people new to the wealth management market, entrepreneurs and family businesses, business professionals and executives, healthcare professionals, and foundations and associations.

Asset Management and Merchant Banking

Asset Management and Merchant Banking offer specialist services in areas such as asset management, securities, mergers and acquisitions and capital market transactions to institutional investors, companies, financial institutions and semi-public and public institutions. The bank’s subsidiary Kempen & Co serves the institutional market and offers investment services.

Main subsidiaries

Offices

Office in The Hague

In the Netherlands, Van Lanschot has twenty-eight offices and client reception locations, in most large cities. These offices are usually located in historic buildings. In Belgium, Van Lanschot has seven offices. Furthermore, the bank operates a branch in Switzerland. Van Lanschot is headquartered in 's-Hertogenbosch, Hooge Steenweg 29.

Sponsorship

Van Lanschot’s sponsorship aims to help preserve Dutch cultural heritage. The bank is sponsor of the Van Gogh Museum in Amsterdam. Furthermore, Van Lanschot is head sponsor of Springpaarden Fonds Nederland, a fund whose purpose is to select, buy and keep talented Dutch-bred horses in the Netherlands for Dutch show jumpers to ride.

Controversy

In July 2018, Van Lanschot announced that it would terminate all accounts from private individuals who do not have sufficient investable assets or who do not wish to invest with the bank. They were told so by letter, including customers who had previously been recruited by Van Lanschot themselves. Van Lanschot informed that services related to "payment traffic and savings alone can not make the difference". Customers with too little capital must supplement this to 500,000 Euros and can then qualify for private banking services. The terms and conditions do allow Van Lanschot to terminate customer relationships, but nevertheless some felt "trashed" by an "arrogant bank".[4]

Financial results

The table below shows the results as of 2007.

(€ x million)
Year[5] Revenue Operating
result
before tax		 Loan loss
provisions		 Net
profit		 Total
assets		 RWA Market
capitalisation
(year-end)		 Number of staff
(x FTEs)
2007 €648 €233 €1 €215 €21,719 €13,600 €2.6 bn 2,473
2008 €494 €21 €20 €30 €20,692 €14,000 €1.8 bn 2,241
2009 €568 € -36 €113 € -16 €21,265 €13,915 €1.4 bn 2,050
2010 €631 €88 €87 €67 €20,325 €11,752 €1.2 bn 2,043
2011 €552 €47 €61 €43 €18,454 €11,000 €0.9 bn 2,009
2012 €541 € -165 €113 € -147 €17,941 €10,535 €0.6 bn 1,862
2013 €551 €37 €102 €34 €17,670 €9,003 €0.7 bn 1,808
2014[6] €547 €134* €76 €54** €17,259 €7,356 €0.7 bn 1,712
2015[7] €521 €54* €51 €60** €15,496 €6,431 €0.8 bn 1,666
2016 €482 €109 € -7 €70 €14,881 €5,623 €0.8 bn 1,670

2014: *including one-off pension gain; **excluding one-off pension gain
2015: * Including one-off charge arising from the sale of non-performing property loans; ** Excluding one-off charge arising from the sale of non-performing property loans

References

  1. 1 2 3 "Press release Annual results 2017 - 22 February 2017".
  2. ↑ "Van Lanschot signs purchase agreement for acquisition of CenE Bankiers". Cws.huginonline.com. Retrieved 2014-06-24.
  3. ↑ "Van Lanschot and Kempen reach an accord and sign purchase agreement". Cws.huginonline.com. Retrieved 2014-06-24.
  4. ↑ See: Van Lanschot loost 'arme' en niet-beleggende klanten (Van Lanschot dumps 'poor' and non-investing customers), Het Financieele Dagblad, 3 July 2018. Accessed on 3 July 2018.
  5. ↑ Annual reports
  6. ↑ "Annual results 2014".
  7. ↑ "Annual results 2015".
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