Investment Officer Luxembourg

Banks and asset managers continue to make misleading sustainability claims, according to the European Securities and Markets Authority, Esma. Following an investigation into the compliance of marketing communications with MiFID II rules, Esma found that financial products and services are often presented as green without substantiating the sustainability claims.

This week’s overview of transfers, appointments, promotions and other people news includes updates from Universal Investment, Gen II Fund Services, Deloitte and JP Morgan.

ING Luxembourg has decided to eject thousands of mass retail clients in the grand duchy as part of a strategic transformation in which it plans to boost its focus on more profitable private banking services.

British-American multinational insurance services provider Willis Towers Watson (WTW) is preparing to launch its first Luxembourg-based private equity fund in the coming months. The firm has already has secured over 500 million euro in commitments. The move follows WTW’s recent announcement of a UK private equity fund.

Imagine standing in the Dutch polder, gazing at a sky illuminated by the ethereal northern lights. It’s a rare event, almost as rare as the European Central Bank (ECB) adjusting interest rates before the U.S. Federal Reserve (Fed). Yet, this unusual monetary phenomenon is set to occur when the ECB convenes in June to discuss interest rates.

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.