HISTORY_2002_KASBANK.ashxChris Oomen is the boss of the small insurance company DSW. Not one of the boring pack, DSW is the only rebel in the small Dutch world of insurance. I would switch if it wouldn’t be such a hassle.

Oomen is good for a few bucks, he’s one of the richest men in the country. He earned his fortune with another company he founded in 1986: Optiver.

Optiverder

With his estimated net worth of €150 million Oomen is a modest investor. His personal holding is called Optiverder, and can be found in the AFM registers with stakes in small caps. In spite of a bull market, his small cap adventures haven’t turned gold. He owns 5% of Grontmij and is facing a loss on this one of 75% (since 2008). He scratched a 5% stake in ICT Automatisering between 2011 and 2013 – only a small loss if he was lucky.

Allard Jakobs

Looks like he decided to follow another icon of the Dutch option industry. Allard Jakobs, used to be of comparable wealth as Chris Oomen. Jakobs is of course owner of All Options, has a stake of 5,27% in the custody bank Kas Bank. Over the past 6 years he has seen an annualized yearly return of 10% on this stock. His stake is currently worth almost €10 million. Handsome profit? Nah, lagging the index by wide margin. Last week Chris Oomen joined ship. Bought a stake of 3.08% in the firm.

No options on Kas

There are no listed options on Kas Bank. Euronext proposed to introduce options on Kas Bank last year, but while other small cap options were fine – market participants turned down the suggestion. With the Altana tragedy in mind, nobody favorited quoting options on a stock with Jakobs involved as shareholder.

All Options itself wasn’t allowed to sign up for quoting Kas options. Euronext didn’t want it, but anyway his clearing (Goldman Sachs) isn’t fond of letting All Options trade Dutch options. ABN AMRO clearing refuses Jakobs as a client.

Disclaimer

Long position in shares Kas Bank.

Jack
Jack