Robeco, the asset management business of Dutch bank Rabobank, wants to strengthen both its wealth management and institutional business in F...

Robeco, the asset management business of Dutch bank Rabobank, wants to strengthen both its wealth management and institutional business in France. The asset manager said it wants to double the volume of assets it manages in France by 2010; at present Robeco manages €4 billion ($4.7 billion) of assets in the country, €1.5 billion of which is managed on behalf of private individuals. Robeco in total had €131.5 billion of assets under management at the end of 2005. In a report in Les Echos, Robeco said it would concentrate on building its private banking and institutional business in France, but gave few details. A spokesman for Rabobank was not able to comment to WealthBriefing on Robeco’s plans for wealth management expansion in France. Rabobank currently has a Dutch-based private banking business called Schretlen & Co and also has a minority stake in Bank Sarasin, the Swiss private bank.