Investment Officer

Apex Group on Thursday said it has been appointed by BTC Investment Group to deliver fund services to its Argento Energy Fund LP, launched by the Mexican family office BTC in 2022, to manage investments in the US onshore oil and gas industry, with a target size of 100 million dollars. Apex will provide the services via its Miami office.

In what appears to be the final stage of bidding for Belgian private bank Degroof Petercam, two foreign banks are set to battle it out, Flemish daily De Standaard reported on Thursday, citing ‘several observers’.  The bidding process for Degroof Petercam is expected to be completed this month.

Quintet Private Bank, headquartered in Luxembourg and operating across Europe, on Thursday said it has signed a memorandum of understanding with BlackRock, the world’s largest asset manager. The agreement will extend Quintet’s investment capabilities, significantly strengthening its ability to meet the long-term needs of its clients while retaining full control of all its investment decision-making.

Moventum has announced the appointment of Louis Wright as the new CEO of the Luxembourg-based financial services company, following confirmation by the CSSF. With his extensive background in the industry, Wright is set to spearhead Moventum’s provision of top-notch investment and wealth management solutions across Europe.

Wright replaces Sabine Said, who left the firm in March to set up her own consultancy business, Scharzberg Sarl.

Luxembourg is taking measures to become more competitive in the international funds market. Finance Minister Yuriko Backes has revealed plans to amend the “subscription” tax imposed on funds such as European Long Term Investment Funds, known as Eltifs, a move aimed at preserving Luxembourg’s position as a leading fund location in Europe.

ShareAction, a UK-based international charity advocating for responsible investment, on Monday launched a new definition of “responsible investment” with the aim of raising standards across the financial sector while combating greenwashing and misleading claims.

Global managed assets decreased by four percent to $255 trillion in 2022, marking the first decline in fifteen years, according to the new Global Wealth report by Boston Consulting Group (BCG). However, global savings increased by over 6 percent during the same period.

The association representing Luxembourg’s banking industry has claimed success in its lobbying effort to persuade the EU to amend the rules governing the prudential requirements and the supervision of third-country branches to its satisfaction. The association said Thursday that a series of subsequent amendments preserve the attractiveness of the EU as a financial centre towards the rest of the world.

Private investors do not know what rising interest rates do to their investments. Despite this, they said they achieved solid returns even when blood ran through the streets.

With a few days to go before crucial EU talks that could lead to major reforms of the Markets in Financial Instruments Directive, known as Mifid, EU asset managers, banks, and brokers are urging policymakers not to succumb to pressure that could lead to “suboptimal outcomes” in the review.