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  • Land Deutschland

Media | 4 Oktober 2021 14:29

Renell Bank AG
Renell Bank AG acquires Belgian asset manager Merit Capital NV


DGAP-Media / 04.10.2021 / 14:29

 

Another milestone on the way to expanding the bank

The management board of Frankfurt-based Renell Bank AG and the shareholders of Merit Capital NV signed a purchase agreement for the one hundred percent takeover on September 30, 2021. The bank successfully prevailed over several prospective buyers. The transaction will take effect on January 1, 2022, subject to the approval of the National Bank of Belgium and Renell Bank shareholders.

Merit Capital NV is an asset management and portfolio management company based in Belgium. The company was founded in 2000 and is regulated by the FSMA and the Belgian National Bank. Merit Capital NV has approx. 3,500 clients with total assets under management of 1.25 billion euros.

Marc Renell, CEO of Renell Bank AG: “The takeover brings many synergies and an acceleration of our strategic goals. We are happy to have reached this milestone.”

Merit Capital NV will be further expanded as an independent company with its strong network in the Belgian market. Andreas Leonhardt, CFO of Renell Bank AG, will move to the Management Board of Merit Capital for a transitional period and, in particular, will further develop risk management and compliance.

About Renell Bank AG:

Renell Bank was founded in Frankfurt in 1985 and has been managed as a private bank by the owners ever since. The bank is authorised and regulated by the German Federal Financial Supervisory Authority (BaFin), Deutsche Bundesbank and FINMA (Switzerland). The bank is also a member of the Compensatory Fund of Securities Trading Companies (EDW). The original main business segment was market making in securities (shares, bonds, funds) on stock exchanges. Since 2020, the bank has focused on corporate finance and financial portfolio management.
 


End of Media Release

Issuer: Renell Bank AG
Key word(s): Finance

04.10.2021 Dissemination of a Press Release, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
Language: English
Company: Renell Bank AG
Schillerstraße 2
60313 Frankfurt am Main
Germany
Internet: www.renellbank.com
EQS News ID: 1238049

 
End of News DGAP Media

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