Banque Havilland buys Banco Popolare Luxembourg
Banque Havilland has bought the full share capital of Banco Popolare Luxembourg, the Luxembourg-based bank said in a joint statement with Italy’s Banco Popolare.
The transaction has been approved by the appropriate supervisory authorities and is targeted to expand Banque Havilland’s UHNW client base in Europe.
“In addition it will also bring further strategic capabilities to the bank in the shape of a platform to service investment funds and institutional clients.
“The transaction will provide for continuity of services for the Banco Popolare Luxembourg private and institutional clients, allowing them to retain their investment relationships,” the bank said.
Jean-François Willems, CEO, Banque Havilland S.A. said: “The acquisition of Banco Popolare Luxembourg S.A. will reinforce our position in the European wealth management market and importantly for us it will provide a platform for delivering fund. This is a logical flow from our private banking services, in response to our client’s demands and their increasing appetite for investment fund products.”