AMSTERDAM (Reuters) - Dutch bank InsingerGilissen said on Thursday it would buy Lombard Odier’s Dutch private banking operations, with around 1 billion euros ($1.2 billion) of assets under management, for an undisclosed sum.
Lombard’s 12 employees will join Insinger, a subsidiary of KBL European Private Bankers, in Amsterdam. The deal is expected to close in mid-2018 after regulatory approval, Insinger said in a statement.
($1 = 0.8625 euros)
Reporting by Toby Sterling; Editing by Susan Fenton