Shifting focus towards financial services;
- Transformation from a diversified industrial holding company into a business with exclusive focus on banking and financial services
- Kleinwort Benson will be the cornerstone of RHJI’s future strategy
- RHJI’s remaining industrial holdings earmarked as « legacy » and will be disposed over the next years
- Explicit divestments have already been made to fuel investments in financial services
- Leading Expertise in the financial industry
- RHJI's transformation has been initiated with the appointment of Leonhard Fischer, Chief Executive Officer, and new financial services executives
- Members of the RHJI management are recognised for their extensive experience, know-how and network in the financial services industry
- RHJI's strong financial background
FOCUS
- Develop into a dynamic group with an exclusive focus on banking and financial services
CONTINUITY
- Permanent capital structure as publicly traded company enables long-term value creation
FINANCIAL STRENGTHS
- RHJI's balance sheet with solid capital base and investment assets radically impaired to reflect realistic market values
- Robust asset position with total assets of € 912m at March 31, 2010, including
- investments of € 766m
- cash of € 146m
- RHJI SA has no financial debt and limited liabilities
- External debt facilities are ring fenced in the subsidiary companies
- Phased disposal plan in place to free additional cash from divestments
- In June 2008, RHJI acquired a 50% stake in ARECON AG, a Swiss independent asset management company with more than CHF1.2 billion under management
- In June 2009, RHJI acquired a controlling stake in Belvall Capital SA, a specialty finance company that provides capital solutions for middle market borrowers throughout Europe and which is registered in Luxembourg.
- In September 2009, RHJI acquired a 20% ownership interest in QUIRIN AG and participated to a capital increase in December, increasing its stake to 27.8%
- June 2010 – RHJI agreed with KBC Asset Management N.V. to buy KBC Asset Management Limited (Dublin). KBCAM Dublin is a high quality asset management firm which manages approximately EUR 4 billion (as of March 31, 2010) of discretionary assets for global institutional clients and will become KB Investors.