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Date
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May 31, 2024
Sector

Luxembourg banks ready to welcome ejected ING clients

Luxembourg bankers' association ABBL on Friday said the sector is ready to accommodate clients affected by ING Luxembourg's recent decision to cease its retail banking services. This strategic withdrawal has left thousands of customers in a state of …
May 31, 2024
Products

Dividend investing 2.0: Balancing growth and yield

Dividend funds have long been a stalwart for investors seeking reliable income. Traditionally, these funds focus on stocks that offer high and dependable dividends, often from companies with strong cash flow, solid market positions, and healthy balance …
May 31, 2024
Sector,Opinion,Laws and Regulations

AI in investment services: A double-edged sword

Artificial intelligence (AI) is reshaping the financial landscape with promises of efficiency, innovation, and superior decision-making capabilities. However, as the European Securities and Markets Authority (Esma) warned this week, the integration of AI …
May 30, 2024
Laws and Regulations

Esma warns of AI risks in investment services

The European Securities and Markets Authority (Esma) issued a warning on Thursday, advising the financial sector to exercise caution in the use of artificial intelligence (AI) in investment services. While AI promises to revolutionise the retail …
May 30, 2024
Sector,Transfers

Transfer Thursday: Abrdn CEO exits, new CTO for UI

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. Stephen Bird Stephen Bird (photo) has agreed to step down as CEO at UK asset …
May 30, 2024
Sector,Laws and Regulations

As mystery shopper, Esma finds greenwashing in finance

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 …
May 29, 2024
Private Banks,Laws and Regulations

ING ejects Luxembourg retail clients in private banking push

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. The move has left many of the Dutch bank’s …
May 29, 2024
Sector

WTW already secured €500 mln for new Luxembourg Raif

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 …
May 29, 2024
Opinion

Seeing northern lights? Almost as rare as an ECB interest rate shift

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 …
May 28, 2024
Private Banks,Asset Servicing

Private bank Hauck Aufhäuser goes Dutch in €672 mln deal

Dutch bank ABN Amro has announced the acquisition of German private bank Hauck Aufhäuser Lampe, also known as HAL, from Chinese investment company Fosun International. HAL's asset services activities in Luxembourg and Ireland are excluded from the …