Hauck & Aufhäuser Privatbankiers AG posted earnings after taxes of €26m (previous year -€0.8m) since the financial crisis for the 2017 financial year.
The average assets under management amounted to €75.0bn (previous year: €56.5bn) and has risen steadily in recent years – as has the balance sheet total, which amounted to €5.1bn as at 31 December 2017 (Previous year: €3.0bn).
The number of employees at the balance sheet date rose to 726 heads compared to the previous year (578 heads), mainly due to the successful takeover of the Luxembourg Sal. Oppenheim companies.
A significant part of these positive developments can be attributed to the gradual implementation of the “H & A Strategy 2020”, which is accompanied by an extensive transformation process of the bank. The focus here is on the action areas of organic and inorganic growth, digitalisation and increasing efficiency through automation.
With the strengthening of the Luxembourg location and cooperation with Fosun International Ltd. Hauck & Aufhäuser is also expanding its international presence beyond the German-speaking area. While the private bank’s investments in recent years have been heavily influenced by regulatory obligations such as MiFID II or the investment tax reform, in the future the focus will increasingly be on digitisation. Currently all private customers are migrated to the 2018 completed online banking platform.
In the year 2018, a digital asset management offer for customers will be launched.