Investment Officer

Rising interest rates and growing balance sheets have led to a rise of 20.1 percent in interest income for Luxembourg’s banks in the first quarter, according to data released by financial supervisor CSSF. The improvements however were not enough to counter a decline in non-recurring revenues, which meant overall bank sector profits fell 2.4 percent.

Five representatives of the financial services sector in Luxembourg have been named as members of working groups and specialist advisory committees of the European Securities and Markets Authority, or Esma. The new composition of the committees was made public on Friday and includes about 200 names.

EY Luxembourg on Friday said it has named Fernando Longares as its new leader for the Telecommunications, Media and Technology (TMT) sector, Longares will succeed Gaël Denis, who will become chief operating officer at the firm. 

Nearly two-thirds of investors in Europe are concerned about greenwashing, even though EU regulation has been in place for more than a year, a new survey released on Thursday showed. More than half of all European investors remain very concerned about the lack of transparency and reported data.

PwC Luxembourg on Thursday said it has admitted fourteen new partners to the firm, along with three new managing directors. 

These fourteen partners and three managing directors are experts in their fields, and lead teams that demonstrate PwC’s vision for its global network, the firm said.

Belgian investment house Degroof Petercam on Wednesday named Gautier Bataille as its new CEO for Luxembourg. Filip Depaz has been appointed as chief operating officer for the group.

Bataille will succeed Bruno Houdmont from 1 August. He has held several leadership roles at the firm and currently is executive member of the management board and group head of business development.

Apex Group is adding another firm to its growing string of acquisitions, announcing that it plans to take over Amsterdam-based Darwin Depositary Services, a firm that provides depositary services to alternative investment funds in Europe. Financial details were not disclosed.

As the only independent AIFMD depositary in mainland Europe, Darwin provides services to a range of international clients, including hedge funds, real estate, debt and private equity funds as well as funds investing in infrastructure and renewable energy.

US asset manager Columbia Threadneedle on Monday said it has completed the rebranding of the European activities of BMO Global Asset Management, bringing its products and savings plans together under a single brand.

Europe’s asset management industry on Wednesday called on governments across Europe to take additional actions such as introducing new tax incentives to protect retail investors and savers against inflation. 

Two-thirds of Europe’s institutional investors plan to stop investing in non-ESG funds by the end of next year, according to fresh survey data released on Monday. Nearly 72 percent of them are willing to pay a premium for ESG products, while a similar majority of European asset managers wants to stop launching non-ESG products by 2024.