Investment Officer

Dutch bank ABN Amro on Tuesday said it agreed to pay 672 million euro for German private bank Hauck Aufhäuser Lampe, also known as HAL, from debt-laden Chinese investment company Fosun International. HAL’s asset services activities in Luxembourg and Ireland are excluded from the transaction.

Luxembourg’s Management Companies, the firms that handle a substantial portion of investments serviced in the Grand Duchy, employed a record 7,700 people at the end of last year, up 11 percent from the previous year. This figure is reported in PwC’s 2024 Barometer for the ManCo sector.

This week’s overview of transfers, appointments, promotions and other people news includes updates from Banque Internationale à Luxembourg, Gen II Fund Services, Robeco, and Dubai-based GSB.

FE fundinfo, a Luxembourg-based financial data company that connects the asset management industry to distribution networks across the UK, Europe, and Asia Pacific, has announced its acquisition of Dericon, a fintech firm based in Frankfurt. Financial details were not disclosed. 

Jersey-headquartered Aztec Group has announced the launch of its Alternative Investment Fund Manager (AIFM) service in Luxembourg. This new service offers a range of support functions required by alternative investment managers establishing and managing European alternative investment funds. The services include marketing, compliance, risk management, regulatory reporting, and portfolio management.

Dear reader, with the power struggle between China and the U.S., geopolitics has made a comeback on the investor agenda. Reason for us as editors to create a series on geopolitics and investing. In seven episodes, we will discuss various geopolitical and market shifts that are changing the investor landscape, from Europe’s challenges to China’s rise, AI impacts and the global energy transition.

Emmanuel Gutton, a well-known legal expert in Luxembourg who until recently served as deputy CEO at the Association of the Luxembourg Fund Industry (Alfi), has joined New York-headquartered law firm White & Case LLP as funds partner. 

Gutton will advise on the creation, structuring and conversion of funds across a wide range of asset classes including private equity and real estate. The firm said he will also assist in setting-up and advising investment fund managers. 

Luxembourg’s financial supervisor Commission de Surveillance du Secteur Financier, CSSF, and Alfi, the Association of the Luxembourg Fund Industry, will host a joint webinar on 6 June to discuss the new new rules for investment funds concerning errors in Net Asset Value (NAV) calculations, breaches of investment rules, and other related errors in investment funds. The CSSF announced the new rules in March as per CSSF Circular 24/856. 

Vanguard Group has announced that Salim Ramji, formerly of BlackRock, will become its new CEO on July 8th. Ramji, who will also join the board of directors, will take over from Tim Buckley.

Until recently, Ramji was responsible for BlackRock’s exchange-traded funds (ETFs) and index investments divisions, where he managed to grow the ETF business from $1 trillion to $2.5 trillion.

This week’s overview of transfers, appointments, promotions and other people news includes updates from Gen II Fund Services, Nuveen, PWC Luxembourg, Robeco, Candriam and Ark Invest. 

Gül Poslu

Gül Poslu (photo) has been named head of Benelux at Nuveen, a global asset manager with over some 1.200 billion in assets under management.