Bethmann bank plans restructuring
Bethmann bank announced changes in their top management. Horst Schmidt plans to leave the private bank in the summer after serving as chairman for ten years. In addition, he has decided to resign from ABN Amro, where he held high-ranking positions for 13 years. ABN Amro intends to announce who will succeed Horst Schmidt in the near future.
Under his leadership, Bethmann bank beccame the third largest provider of advisory services for private banking clients in Germany. The private bank’s business volume tripled during this period through organic growth and successful acquisitions. It currently manages client assets of approximately €38bn. Despite the fact that the sector is currently facing a highly challenging environment, Bethmann bank reported an inflow of funds at record levels amounting to €1.7bn in the past year. Parallel to the expansion, Schmidt presided over the further development of the bank’s business model, for example through significant investments in digitalisation
Horst Schmidt, CEO of Bethmann bank AG commented, “following 13 incredibly interesting years at the ABN Amro group, ten of which were spent as chairman of Bethmann Bank, it is time for me to pursue new challenges. This is why I have decided to leave ABN Amro. Furthermore, since ABN Amro is embarking on a new phase of development, this is the right time to make this decision. I am thankful for working as part of such an excellent team, and for being able to contribute to develop Bethmann bank into a strong partner for our customers.”
Jeroen Rijpkema, chairman of the supervisory board of Bethmann bank AG added, “Horst Schmidt is held in high esteem both as leader and person within ABN Amro. Under his leadership, Bethmann bank evolved into one of the top names for private banking in Germany. The supervisory board respects Horst Schmidt’s decision and sincerely thanks him for his enduring achievements for the bank and ABN Amro. Although we truly regret his decision to leave Bethmann bank and ABN Amro, we do wish him all the best for his future professional and personal endeavours.”
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