BNP Paribas Private Bank has formed a strategic partnership with Anglo-Dutch banking group Insinger de Beaufort, in a bid to challenge Dutch lender Fortis ABN for its market share of high net worth clients in the Netherlands.
The private banking arm of French bank BNP Paribas has paid â¬60m ($93.6m) for a 35% stake in Insinger de Beaufort, and will combine its Dutch operations, Nachenius Tjeenk, with Insinger's activities in the Netherlands.
