Laws and Regulations · Supervision

Banque Havilland’s demise opens old wounds in Luxembourg

Celebrating the creation of Banque Havilland in 2009. From left to right: Banque Havilland president David Rowland; Luxembourg finance minister, now prime minister; Luc Frieden, CEO Jonathan Rowland; and Prince Andrew, HRH The Duke of York.
Celebrating the creation of Banque Havilland in 2009. From left to right: Banque Havilland president David Rowland, Luxembourg finance minister Luc Frieden, CEO Jonathan Rowland and Prince Andrew, HRH The Duke of York.
Banque Havilland, once a discreet player in the European private banking sector, is now caught in a severe regulatory storm. This case has also reignited old tensions related to the 2009 sale of Icelandic bank Kaupthing’s Luxembourg unit to the Rowland family, the financiers behind Banque Havilland.
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