Asset Owner

Nassim Taleb explains why averages, correlations, and diversification fail investors—and why modern portfolio theory dangerously misrepresents real financial risk.

ABN Amro is raising the entry threshold for private banking in the Netherlands from 500,000 to 1 million euros as of 1 June. In Belgium, the Dutch bank is rebranding its private banking arm under the MeesPierson label, part of a broader ambition to become a top-three player in the four countries where it offers wealth services: the Netherlands, Belgium, France, and Germany.

In a landmark judgment with international resonance, a Luxembourg district court has, for the first time, convicted a domestic bank of money laundering, ordering the confiscation of 25 million euro from Edmond de Rothschild (Europe) S.A. for its role in the cross-border misappropriation of funds from Malaysia’s 1MDB sovereign wealth fund.

Rothschild & Co has opened a new wealth management office in Luxembourg under its Rothschild Martin Maurel brand.

ING plans to begin offering one or more Eltif funds for private banking clients in the Netherlands and Belgium before the end of 2025.

At its London media summit, J.P. Morgan Asset Management underlined Europe’s bright prospects and stressed the renewed case for active management.

This week’s overview of executive appointments in and around Luxembourg includes updates from TMF Group, FNZ, Deloitte and Linklaters.

Continuation funds, once a post-crisis workaround for expiring vehicles in weak exit markets, are booming and find themselves at the centre of growing criticism.

Last Friday, it finally happened: Moody’s—the last credit rating agency still holding on to a shred of faith in Uncle Sam—downgraded the United States from AAA to Aa1. America is now officially among the ranks of “almost-but-not-quite-perfect” countries. It’s a bit like a high school student going from a 10 to a 9.5—still excellent, but mom and dad are disappointed nonetheless.

The rise of Eltif 2.0 and private market retail access is exposing a critical weakness: legacy reporting systems that cannot meet modern client expectations.