ABN AMRO Bank N : MeesPierson assigns testamentary administration and executorship activities to Capital Support

ABN AMRO MeesPierson and Capital Support have concluded an agreement in principle on ABN AMRO MeesPierson's activities as testamentary administrator, executor and authorised representative. The bank has been appointed to perform these activities for around 1,000 clients and actively represents around 100. The staff concerned will transfer to Capital Support. The acquisition is expected to be finalised at the end of August. The parties are not commenting on the transaction price.

Bram Kroep, Global Head of Wealth Structuring at ABN AMRO MeesPierson: 'The specialists at ABN AMRO MeesPierson and Capital Support are combining their expertise to allow them to provide even better service to clients. Another factor in the decision to stop providing this service at ABN AMRO MeesPierson is that we no longer feel these activities are a good fit for the bank. We want to be able to advise and serve our clients independently. We have worked with Capital Support for many years and are fully confident that they will look after our clients' interests.'

Lodewijk Siertsema, Managing Partner of Capital Support. 'We're delighted to be able to acquire the activities and employees of the administration and executorship department. These are a core activity of our Family and Charity Office. Capital Support's strategy is to give clients a good understanding and overview of their assets. By doing so we help our clients and next generations safeguard their wealth. We very much look forward to welcoming ABN AMRO's specialists, support staff and of course its clients.'

ABN AMRO will be contacting its clients about the change from today. If clients decide not to take any action they will automatically become clients of Capital Support from the end of August 2020. Any clients who do not want to transfer to Capital Support will have ample time (12 weeks from the date of notification by ABN AMRO) to appoint an alternative party or person.