ING Bank Śląski Takes Sole Ownership of Goldman Sachs TFI

ING Bank Śląski has taken full control of Polish asset management company Goldman Sachs TFI, acquiring the remaining 55% stake from Goldman Sachs Asset Management for 396 million zlotys ($108 million).

This acquisition follows ING’s initial purchase in 2019 of a 45% stake via its subsidiary ING Investment. It positions the Katowice-headquartered bank, founded in 1988 as Bank Śląski and acquired and rebranded by ING Group in 2001, as the exclusive shareholder of one of Poland’s leading asset management firms.

According to Brunon Bartkiewicz, CEO of ING Bank Śląski, this move aligns with ING’s long-term strategy to strengthen its position in the investment market and offer clients broader access to high-quality financial products, as Polish customers seek alternatives to traditional savings.

Serving over 736,000 clients, Goldman Sachs TFI is the second-largest capital market mutual fund manager in Poland, with a 12% market share and 48 billion zlotys in assets. The firm will continue to operate under its existing brand for now, maintaining continuity for clients and partners.

This move to acquire 100% ownership can be seen as a reflection of ING’s confidence in the strength of the Polish economy, the burgeoning affluence of its consumer and corporate market, and the growing appetite for diversified investment solutions.

ING plans to leverage the firm’s expertise and product portfolio to enhance its wealth management offerings, particularly in mutual funds and tailored investment strategies.