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Goldman Sachs swallows Dutch asset manager

Goldman Sachs swallows Dutch asset manager

Goldman Sachs is expanding its wealth management business in Europe with the acquisition of Dutch company NN Investment Partners for $1.7 billion. Bank of Wall Street has announced that the company of more than 900 employees, which belongs to the insurance group NN Group, will be merged into the asset management division of Goldman Sachs.

The acquisition will increase Goldman Sachs’ assets under management to approximately $2.8 trillion. Assets under management in Europe increased to more than $600 billion. With the acquisition, the Netherlands will become an important location in Goldman Sachs’ European business.

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