Investment Officer

As Puilaetco, a subsidiary of Luxembourg-headquartered Quintet, nears the final stages of a high-profile partnership with BlackRock, the world’s largest asset manager, the Belgian private bank is setting ambitious, forward-looking objectives. The collaboration aims to tap into next-generation wealth management, with new services expected to roll out in Q1 2024.

Performance of Bridgewater Associates’ flagship Pure Alpha Fund falls short, raising speculation that the hedge fund’s founder, Ray Dalio, may come out of retirement to regain control, much to the dismay of the new CEO.

Although Dalio retired in 2022, he retained the contractual right to take back control of Bridgewater Associates, the world’s largest hedge fund, if its performance lags.

Hamburg-based private bank M. M. Warburg & Co has announced the launch of its first real estate debt fund, WB Urban Real Estate Finance I, a Luxembourg-registered reserved alternative investment fund, or Raif, for institutional investors. The fund targets raising some 300 million euro, with initial seed financing of 86 million.

“We are a recognizable and accessible face for our clients. We are not product pushers but focus on concrete goals,” said Stefaan Vanden Berghe, CEO of Truncus. 

For several years, Truncus has been featured on Chambers & Partners’ list of top wealth managers, a prestigious ranking annually compiled based on the opinions of lawyers and tax consultants. Truncus is the only Belgian firm in this category.

The European Commission is considering a revamp of the way sustainable investment products are classified and is about to launch a three-month consultation soon. The current system, governed by the Sustainable Finance Disclosure Regulation (SFDR), categorizes these products under Article 8 and Article 9, but this could be subject to change.

In a significant blow to the push for gender equality within the asset management sector, Citywire’s Alpha Female Report for 2023 shows almost no progress in the representation of female fund managers over the past year. 

PwC Luxembourg is enhancing its real estate capabilities with the addition of new partner Pierre Wauthier, a veteran with over two decades of experience in Luxembourg’s real estate and deal markets. Wauthier joins the firm after three years at law firm Arendt & Medernach, which had joined in 2020 after nine years at PwC.

Urban Angehrn, CEO of the Swiss Financial Market Supervisory Authority (Finma), is stepping down at the end of September, citing health issues linked to job-related stress. Deputy Director Birgit Rutishauser will become the interim director starting Oct. 1, according to a statement from the agency.

European fund and asset management association Efama has raised significant concerns over the proposed regulatory technical standards and implementing technical standards for the Digital Operational Resilience Act, the cybersecurity plan known as Dora, criticising the measures as excessively broad and disproportionate. Efama, whose Luxembourg member is Alfi, the Association of the Luxembourg Fund Industry,  argues that a “one size fits all” approach will be inordinately burdensome, particularly for asset management companies. 

Global financial services provider Apex Group on Monday announced the initiation of its business operations in South Korea. The move aims to offer extensive solutions to global asset management clients and solidifies the  firm’s presence in the Asia-Pacific region.