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Van Lanschot Kempen

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Van Lanschot Kempen N.V.
Company typePublic
Euronext: VLK
IndustryBanking, Financial services
Founded22 July 1737; 287 years ago (1737-07-22)
HeadquartersHooge Steenweg 29, 5211 JN 's-Hertogenbosch,
The Netherlands
Area served
The Netherlands, Belgium, Switzerland
Key people
  • Karl Guha (CEO)
  • Frans Blom (Chairman of Supervisory Board)[1]
Products
Revenue€508 million (2019)[2]
€98 million (2019)[2]
Number of employees
1,560 (2019)[2]
Website

Van Lanschot Kempen N.V. is the holding company of Van Lanschot Kempen Wealth Management N.V.,[2] also operating under the brand names Van Lanschot, Kempen, Evi and Van Lanschot Kempen, a financial institution of Dutch origin offering private banking, asset management and merchant banking services. With a history dating back to 1737, it is the oldest independent bank in the Netherlands,[3] the oldest independent bank in the Benelux[4][5] and one of the oldest banks in the world.[6]

Van Lanschot Kempen positions itself as a specialised, independent wealth manager that provides services to wealthy individuals and institutions.

Corporate structure

Van Lanschot Kempen’s Amsterdam office

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

Van Lanschot

Van Lanschot’s services are aimed at 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.

Evi van Lanschot

Since 2013 Evi van Lanschot offers online investment services.

Kempen & Co

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

  • Van Lanschot Belgium
  • Kempen & Co NV
  • F. van Lanschot Bankiers (Schweiz) AG

History

Van Lanschot

Photo of Van Lanschot bankers (1985) from the Dutch National Archives
Photo of Van Lanschot bankers (1985) from the Dutch National Archives

The history of Van Lanschot dates back to 22 July 1737, when Cornelis van Lanschot founded a trading house in 's-Hertogenbosch.[7]

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 1999, Van Lanschot Kempen's equity securites were listed on Euronext Amsterdam.

Van Lanschot acquired CenE Bankiers (financial services for the healthcare sector) in 2004.[8] Van Lanschot is expected to acquire Hof Hoorneman Bankiers (private bank) in 2021.[9]

Crest of the family and the firm Van Lanschot

Van Lanschot's crest is based on the crest that has been used by the Van Lanschot family since the seventeenth century. The Van Lanschot family appeared in Zundert in the fifteenth century. The name is derived from an elongated piece of land or 'long shot' located in the village of Achtmaal. Three green trees are depicted on a silver and green cover. In front of the middle tree, there is a red castle. The castle may be derived from the coat of arms of the Van Buerstede family. The crest's motto is: 'Exaltabor in terra'.[7]

Het Lanschotje

Front and back of the coin het Lanschotje

After the unification of the Netherlands with Belgium and the proclamation of the Kingdom of the Netherlands in 1815, a new regulation of the monetary system had to be established. The large monetisation project that was planned only commenced in 1821/1822. As a result, there was a shortage of small change coins. Several people, mostly traders, looked for a temporary solution (outside the government) to circulate small coins themselves. They ordered large quantities of copper coins from Germany and brought them to the Kingdom. The Utrecht grocer, Bleyenstein, was the first to introduce this to the market. These coins were also put into circulation by partner Franciscus van Lanschot. The coin was given various nicknames: het Lanschotje, het Bossche duit or Bleyensteinse duit.[7][10]

Kempen & Co

Kempen & Co was established in 1903 in Amsterdam by Arines Johannes Kempen with his companion Martinus Dirk de Lange as an independent stockbroker. The commodities exchange, the Beurs van Berlage had opened only a month before, and it was this exchange that was used by Kempen & Co for its trading. The company began by specialising in the trade of listed companies that operated in the Dutch East Indies.

Van Lanschot acquired Kempen & Co in 2007.[11]

Offices

In the Netherlands, Van Lanschot has twenty-seven offices and client reception locations, in most large cities. These offices are usually located in historic buildings. In Belgium, Van Lanschot has eight offices. Furthermore, the bank operates a branch in Switzerland. Van Lanschot is headquartered in 's-Hertogenbosch, Hooge Steenweg 29. In addition, head office employees work in two other buildings in 's-Hertogenbosch in the Paleiskwartier district, and in the World Trade Center (Amsterdam).

Sponsorship

Van Lanschot’s sponsorship aims to help preserve Dutch cultural heritage. The bank is sponsor of the Van Gogh Museum in Amsterdam and the Van Lanschot Kempen Kunstprijs, an art prize for artists in the Benelux.[12] Furthermore, Van Lanschot is head sponsor of The Royal Concertgebouw in Amsterdam.[13]

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".[14]

Financial results

The table below shows the results as of 2007.

(€ x million)
Year[15] 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[16] €547 €134* €76 €54** €17,259 €7,356 €0.7 bn 1,712
2015[17] €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

See also

References

  1. ^ [Van Lanschot Kempen’s Supervisory Board appoints Frans Blom as its chairman and puts forward Karin Bergstein as a member - 16.04.2020 (wallstreet-online.de) Frans Blom chairman Supervisory Board]
  2. ^ a b c d Annual report 2019 - 27 February 2020
  3. ^ International Investment UBS to sell its Netherlands wealth management bizhttps://www.internationalinvestment.net/internationalinvestment/news/3503988/ubs-sell-netherlands-wealth-management-biz Accessed 2 January 2021
  4. ^ "A Chinese carmaker agrees to buy a Danish investment bank". The Economist. 5 October 2017.
  5. ^ The New York Times Belgian Bank Deal 25 April 1990 https://www.nytimes.com/1990/04/25/business/company-news-belgian-bank-deal.html Accessed 2 January 2021
  6. ^ MSN The 20 oldest banks in the world still operating today https://www.msn.com/en-us/money/news/the-20-oldest-banks-in-the-world-still-operating-today/ss-AAC5XIc#image=9 Accessed 2 January 2021
  7. ^ a b c Dr. Frans Govers, 'De polsslag van de tijd, 1737- 1997, Uitdaging en antwoord in 260 jaar F. van Lanschot Bankiers nv, F. van Lanschot, Bankiers, 's-Hertogenbosch, 1997
  8. ^ "Van Lanschot signs purchase agreement for acquisition of CenE Bankiers". Cws.huginonline.com. Retrieved 2014-06-24.
  9. ^ Vermogensbeheerder Van Lanschot Kempen koopt Hof Hoorneman Bankiers 18 August 2020 https://nos.nl/artikel/2344511-vermogensbeheerder-van-lanschot-kempen-koopt-hof-hoorneman-bankiers.html Accessed 2 January 2021
  10. ^ De Bleyensteinse duiten http://www.duiten.nl/bleyenstein.html Accessed 2 January 2020
  11. ^ "Van Lanschot and Kempen reach an accord and sign purchase agreement". Cws.huginonline.com. Retrieved 2014-06-24.
  12. ^ https://article.wn.com/view/2018/10/10/Mark_Manders_wins_Van_Lanschot_Kempen_s_2018_Art_Prize/
  13. ^ https://article.wn.com/view/2018/01/11/Van_Lanschot_Kempen_becomes_Amsterdam_Concertgebouw_s_new_ma/
  14. ^ 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.
  15. ^ Annual reports
  16. ^ "Annual results 2014".
  17. ^ "Annual results 2015".
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