Strategy
Kleinwort Benson Plans Asia Expansion - Report
UK private bank
Kleinwort Benson is looking to expand in Asia following its
acquisition by Belgian holding company RHJ International, the
Financial Times reports.
In an interview, chief executive officer Rob Taylor told the
publication that the barriers to its international expansion have
now been lifted. Mr Taylor was referring to Kleinwort Benson's
previous owners, Commerzbank and Dresdner Bank. Commerzbank,
which acquired Kleinwort Benson last year, was forced to sell the
private bank - as a non-German asset - as a condition of
receiving public aid under European Union rules.
"We will work towards growing and expanding into international
markets, particularly the Middle East and Far East," he was
quoted as having said.
"In the past those markets have been the responsibility of
Dresdner and Commerzbank. Now we have the ability to do that on
our own," he said.
