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ABN Amro doubles private banking threshold in the Netherlands, repositions in Belgium

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.

Edmond de Rothschild convicted of money laundering, fined €25 mln

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.