Aude de Roquancourt joins EY as partner
Aude de Roquancourt has joined EY Luxembourg as a new partner in the accounting compliance and reporting department, the firm said on Thursday.
De Roquancourt previously served as head of fund reporting at EQT Luxembourg and as head of accounting at Societe Generale. She holds a master’s degree in business and management from the EM Lyon Business School, France. She is a certified Six Sigma Black Belt Project Manager and qualified as chartered accountant.
‘ECB puts its credibility on the line’ with record rate hike
The European Central Bank announced its biggest ever interest rate hike on Thursday. Its three key interest rates will be raised by 75 basis points in an attempt to control rapidly rising inflation in the eurozone. “The ECB has put its credibility on the line today.”
Investment fund sales turn negative in second quarter
Rising inflation, the tightening of monetary policy, Russia’s invasion of Ukraine, and the resulting risks to economic growth have caused sales of investments funds defined as Undertakings for Collective Investments for Transferable Securities, or Ucits, to turn negative in the second quarter, according to the European Fund and Asset Management Association, known as Efama.
Apex buys Canada’s Prometa Fund Support Services
Apex Group, a fund services provider with substantial operations in Luxembourg, on Thursday said it has acquired Prometa Fund Support Services Inc., a Canada-based provider of fund services. Financial details were not disclosed.
Degroof Petercam participates in capital increase at Quadia
Degroof Petercam on Wednesday said it has strengthened its partnership with Swiss-based impact investor Quadia by participating in a capital increase. Financial details were not disclosed.
Following the capital increase, Basel-based Hanaku AG becomes a new strategic shareholder next to Degroof Petercam. Hanaku is a net zero emission focused Swiss holding company specialised in energy transition through infrastructure and finance.
Fuchs fined €1.02 mln as CSSF finds lack of internal controls
Financial supervisor CSSF has imposed two fines totalling 1.015 million euro on Fuchs & Associates after an on-site inspection found that the Luxembourg management company did not comply with laws for internal controls and EU requirements under the Mifid rules.
Romain Swertvaeger named as head of fintech at EY
Romain Swertvaeger has been appointed as head of fintech at EY Luxembourg. He takes over from Gaël Denis, who earlier was appointed as chief operating officer at the firm.
Swertvaeger will lead EY’s fintech practice, which provides services ranging from digital transformation, process management, regulatory compliance and audit, fundraising and valuation support, to tax services and technology risk management.
Pictet: equities underweight, downgrades Chinese stocks
Pictet Asset Management advises its clients to remain underweight in equities and maintained an overweight view on US Treasury bonds. In its latest market outlook, the Swiss-based firm said it reduced the risk in its portfolio by downgrading Chinese stocks to neutral.
Quintet says it remains committed to Dutch branch
Luxembourg-based Quintet Private Bank on Sunday said it remains committed to its InsingerGilissen unit in the Netherlands after news emerged at the weekend of another major departure of one of its investment teams, the second such exit in the space of two weeks.
Investor confidence at highest level since January 2021
Investor confidence in Europe jumped in August and reached its highest level since January last year, according to the latest State Street Investor Confidence Index.
The investor confidence index, or ICI, for Europe jumped 20.4 points to 106 in August. Investor confidence in North America also increased, although merely 2.1 points to 106.5. The global investor confidence index rose to 107.3 in August, up from 102.2 in July.