ABN AMRO MeesPierson and Triodos Bank have announced plans to terminate the Triodos MeesPierson (TMP) joint venture. Both parties have agreed to end the joint venture effective 1 January 2018, subject to approval by the supervisory authorities, and carry on TMP’s operations within their own organisations. Formed in 2005, the joint venture was intended exclusively as a vehicle for providing sustainable asset management to clients of ABN AMRO MeesPierson and Triodos.
Triodos MeesPierson joint venture to merge into parent companies
Managing Director Jos ter Avest of ABN AMRO MeesPierson explains, ‘As with most such vehicles, this joint venture was never intended to last forever. We formed the partnership at a time when sustainable investments were still uncommon and needed to be nurtured carefully. The added value that the partnership between ABN AMRO and Triodos Bank offered lay in the opportunity to join forces and draw on each other’s experience, expertise and resources to boost the growth of sustainable investment.’
Director Albert van Zadelhoff of Triodos Private Banking adds, ‘The joint venture has achieved its goal: our track record in recent years shows the value and success of sustainable investments for our private banking clients. The separate organisations have now agreed to take this experience with sustainable investment and continue to develop it within their respective organisations.’