HVB acquisition
The State Financial Institutions'' Supervision (PSzÁF) has given the go-ahead for HVB Bank Rt to take over the client base of Aegon Securities Rt, the soon-to-be-defunct stockbroker arm of Aegon Insurance Rt.
The State Financial Institutions'' Supervision (PSzÁF) has given the go-ahead for HVB Bank Rt to take over the client base of Aegon Securities Rt, the soon-to-be-defunct stockbroker arm of Aegon Insurance Rt. Aegon decided to pull out of the securities business based on cost efficiency considerations, but its fund management company will remain in business. HVB Bank has been seen to carry out a series of major acquisitions this year and become a leading player in the Hungarian investment market. These included the acquisition of the largest single stake in the Budapest Stock Exchange itself and the takeover of Európa Investment Fund. (Vg 18) P.P.
