In a strategic move, ABN AMRO is set to acquire BUX, a rapidly ascending neobroker in Europe, signaling a profound shift in the landscape of retail investment.
A fistful of profits – the good, the bad, and the ugly of savings and investing
BUX: A neobroker powerhouse
Founded in 2013, BUX has swiftly become a major player with 500,000 clients across eight markets. The acquisition cements ABN AMRO and BUX as the #1 choice for investors in the Netherlands and aligns with ABN AMRO's broader pan-European growth strategy.
Annerie Vreugdenhil, ABN AMRO’s Chief Commercial Officer, highlighted BUX's excellence in helping clients take control of their financial future, stating, "Welcoming BUX into the ABN AMRO family will create a unique combination of innovative user-friendliness and financial strength, stability, and expertise."
Strategic synergy for growth
Yorick Naeff, CEO of BUX, expressed excitement about the collaboration, emphasizing the synergy between BUX's innovation and ABN AMRO's financial strength. This powerful combination positions BUX to become a leading investment platform across Europe.
Building on success
ABN AMRO's venture arm was an early investor in BUX, and the successful partnership between BUX and ABN AMRO Clearing has already yielded milestones like being the first to offer fractional European ETFs in 2022.
The road ahead
The acquisition, subject to regulatory approval, is expected to conclude in 2024, with a minor impact on ABN AMRO's CET1 capital ratio. This move represents a significant step in ABN AMRO's growth strategy, promising a revolutionary approach to mobile investing and reshaping retail finance across Europe.
In summary, ABN AMRO's acquisition of BUX marks a strategic partnership poised to redefine the financial industry, offering investors a revolutionary approach to digital investment backed by innovation and shared commitment.
