Press Release
On Wednesday, March 22, the AMCHAM Board of Directors met at Cercle Munster to vote on changes to the Executive Committee. Marios Paras of Rowlands International S.A. was elected as new Co-Vice-Chairman, replacing Ian Whitecourt of Fiduciaire Whitecourt-Kornerup. Whitecourt had served on the Executive Committee for many years and was instrumental in the founding of AMCHAM. In addition, James O’Neal of KPMG Luxembourg S.à.r.l. was elected the organization’s new Treasurer, replacing Yves Cheret of Alter Domus as per normal rotation. On behalf of AMCHAM, Paul Schonenberg, Chairman & CEO, extends his appreciation to Whitecourt and Cheret for their years of...
Luxembourg-based AML solutions provider CDDS International SA, is pleased to announce a strategic partnership agreement between its subsidiary CDDS Switzerland Sàrl and the Geneva-based BRP SA. BRP SA will ensure the compliance of the anti-money laundering and terrorism financing solutions of CDDS with the Swiss rules and regulations. Through this strategic partnership, CDDS is able to guarantee the highest level of quality to its Swiss clients and will benefit from the important experience of BRP SA for the evolution of its products in Switzerland and abroad. BRP SA is a Swiss company specialised in regulatory advisory services and regulatory compliance...
ALFI is pleased to announce the recruitment of Ms Anouk Agnes as new Director for Communications and Business Development. Ms Agnes currently works as an Advisor at the Ministry of Finance, with her main responsibilities related to the Government’s policy in favour of the development of the financial sector. As such, Ms Agnes acts as the Secretary of the High-level Committee for the Financial Centre and as Director of Strategy of Luxembourg for Finance, the Agency for the development of the financial centre. She has furthermore been in charge of monitoring a number of projects in favour of microfinance, socially...
The International Transfer Agency Summit will take place from 29 February to 1 March 2012 at the Abbey of Neumuenster in Luxembourg City. The main theme will be “Key challenges in fund distribution, operations and transfer agency”. The key areas of focus of this year’s conference will include: - fund operations 2012: what have we learnt over the last year and where are we heading now? - how can we simplify procedures in a world of fragmentation of fund management operations? - platform and distribution support models: how to keep up to speed with the evolution of different service and...
Like several other entities in the Dexia Group, Dexia Life & Pensions is changing its name in order to begin a new chapter in its history, armed with unique know-how garnered from almost 20 years of experience in the Luxembourg market and a renewed commitment to offer the best life insurance solutions to its clients. The company is now called IWI International Wealth Insurer S.A., a life insurance company established in Luxembourg in 1992 and that specialises in providing Wealth Insurance solutions for wealthy international clients in Luxembourg, Switzerland, France, Belgium, Germany and Italy. The new branding recognises the company’s positioning...
Lex Mundi’s Board of Directors voted unanimously to admit Arendt & Medernach as the exclusive member firm for Luxembourg. Lex Mundi is an association of independent law firms with more than 160 member firms around the world, representing approximately 21,000 lawyers. Arendt & Medernach is a leading, independent, full-service law firm with its head office in Luxembourg. The firm has more than 290 legal professionals and offices in Brussels, Dubai, Hong Kong, London and New York. Arendt & Medernach provides services to both institutional and international clients and has developed specialized industry expertise in key areas that include banking and insurance, investment management,...
Read David Steinegger’s interview with Finance Luxembourg in our November-December edition, now online (Press release published by Lombard on 1 February 2012) John Stone, Chairman of Lombard, has decided to retire in order to focus his energies on his charitable foundation (www.thesff.com). Norbert Becker, currently a non-executive director of Lombard will become Chairman. David Steinegger, Chief Executive of Lombard, has also announced his intention to step down to pursue other business interests and will be replaced by Matt Moran the Company’s Chief Financial Officer. John Stone was the founder of Lombard and has been Chairman since the company was established...
(Press release published on Deutsche Börse website on 1 February 2012 – http://bit.ly/xvlet9) (Find European Commission decision (EN/FR/DE) here) The European Commission today announced that it is prohibiting the planned merger between Deutsche Börse AG and NYSE Euronext because, based on its definition of the market for derivatives trading, it considers the merger to be inadmissible under competition law. Deutsche Börse AG has taken note of the decision with disappointment. The Executive Board of Deutsche Börse AG responded: “This is a black day for Europe and for its future competitiveness on global financial markets. The EU Commission’s decision is based...
Societe Generale Securities Services (SGSS) has received nine major ratings, covering six countries, from Global Custodian Magazine, a leading magazine covering the international securities services business, in its 2011 “Agent Banks in Emerging Markets” Survey. The annual survey measures the perceptions of service quality in sub-custody and clearing and asset servicing in 64 markets across three different groups of clients. The ratings were in the following categories: • “Domestic Top Rated” in Croatia, Czech Republic, Egypt, Romania and Russia, • “Cross-Border/Non-Affiliated Top Rated” in Croatia, • “Cross-Border/Non-Affiliated Commended”, “Leading Commended” and “Domestic Commended” in Morocco. The results were: 1st place...
Finesti, the Luxembourg agency for European funds information, reported strong growth in new clients and in its overall fund coverage in 2011. During the year, the firm pursued a strategy of launching and offering new services that enable the European fund industry to comply with certain requirements of the UCITS IV Directive. At the end of 2011, the Finesti database contained information on 39,771 share classes of investment funds, an increase of 9% compared to 2010. This growth was from both Luxembourg and non- Luxembourg domiciled funds. There was also a corresponding increase in the number of documents in the...