BHF-BANK has said it will continue all the major business activities of ING BHF-BANK whilst concentrating on the bank’s traditional core business areas of Asset Management & Financial Services, Financial Markets & Corporates and Private Banking.
Last year saw the bank’s re-entry to the custody services market for German securities. It has acquired a number of new major clients, including The Bank of New York. Custody business, which is part of the Asset Management & Financial Services division, will continue to feature among BHF-BANK’s core products.
BHF-BANK’s transfer from ING Group to its new shareholder was effective as of 1 January 2005. BHF-BANK, which will operate as an independent brand, has equity of EUR 600 million and employs around 1,800 members of staff.