Kas sells off wealthy clients
Kas Bank is selling its banking activities for wealthy individuals to private bank Nachenius Tjeenk for an undisclosed sum. Kas Bank has had a private banking unit since 1806.
Chairman Albert Röell said the move would allow Kas Bank to better focus on serving institutional investors. Nachenius Tjeenk said the takeover means it now has over €2.5bn in assets under management.
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