The Asian conglomerate has already bought a number of Western wealth management firms.

Germany’s Bankhaus Lampe, the private bank, has been silent so far about media speculation that Chinese conglomerate Fosun International is considering buying it. 

Bloomberg reported that Fosun is thinking of bidding for the German firm in a deal that could value it at €200 million ($221.9 million). Other investors, such as Netherlands-based ABN AMRO, are also considering a bid.

Such a move would not be surprising for an Asian group that has already bought a number of firms in recent years, including those in the European private banking space. For example, it bought Hauck & Aufhäuser in 2016. Fosun - founded in 1992 - holds a variety of firms across different sectors, including wealth managers and private banks. Its acquisition strategy involves buying Western wealth management businesses. In January this year, it forged a strategic pact with UK-listed Standard Chartered. Last March, Fosun signed a co-operation pact with HSBC as part of its growth plans.

In 2015, Fosun launched a financial platform for its investment and asset management business in Russia and neighbouring countries. However, not all of its bids have been successful; in 2015 it pulled out of an attempt to acquire BHF Kleinwort Benson. In November 2018, Fosun concluded its purchase of a 69.14 per cent stake of Guide Investimentos from Brazil's central bank. Fosun paid R$167.9 million ($45 million) for the business, and a further R$120 million which is dependent on how well the firm performs in future.

Recent results have been solid, if not spectacular. In its 2018 annual report, Bankhaus Lampe said it logged net income for the year of €14.9 million, which fell a touch from € 15.0 million in 2017.

Assets under management stood at €19.1 billion, slipping from €22.4 billion a year before. In a notable comment, the bank said that it was overhauling its strategy. “We are expanding our range of services, particularly in wealth and asset management, and we are strengthening our salesforce and implementing an efficiency programme we have imposed on ourselves. The aim is to direct the bank with an eye to the future,” the bank said at the time of its annual report.

According to the 2018 annual report, Fosun International reached a total revenue of RMB109.4 billion, up by 24 per cent year-on-year. Profit attributable to owners of the parent stood at RMB13.4 billion.