OCBC's private banking arm has been granted a licence to operate a wealth management subsidiary in Luxembourg. A new unit set up by Bank of Singapore will be able to offer services to its wealthy clients in the European Economic Area (EEA) and in Britain, the bank said. The EEA comprises the European Union countries as well as Iceland, Liechtenstein and Norway.
ZURICH (Reuters) - Swiss bank UBS (UBSG.S) will swap out leadership at its Luxembourg wealth management (WM) unit in October amid changes in the region, including the Swiss bank’s move in January to acquire Nordea’s private banking business there.
Luxembourg's parliament, the Chambre des Députés, is expected to ratify the convention on social security signed last November between Luxembourg and China. The document aims to guarantee the social security rights of both Luxembourgish and Chinese citizens working in the other country. MPs are expected to ratify the agreement in a session of parliament on Wednesday.
US private equity and real estate fund managers can now access a full range of specialist European and African fund structures and SPC investment vehicles with the appointment of investment specialist, Nicolas van Heule, as Director of North America operating from Ocorian’s New York office.
The law firm formalizes the opening of its New York office headed by Nicolas Fermaud. The firm Elvinger Hoss announced on Tuesday the opening of its office in New York. "Elvinger New York" aims to follow the needs of its customers in the US market through a permanent presence.
Nano-satellite maker GOMspace has received nearly €1.5 million in the form of a ''development contract'' offered by the Luxembourg National Space Programme LuxImpulse. The funds, allocated by the European Space Agency, will be used by the Denmark-headquartered company to develop a new product, dubbed the Mega-Constellations Operation Platform (MCOP).
Selected by Luxinnovation together with the LHoFT, Paul Wurth Incub, Lux Future Lab, Technoport and Nyuko, five Luxembourg start-ups will have the opportunity to embark on a trip to the US. An intense schedule full of training, business meetings and networking events is awaiting Algoreg, Travelsify, Yokato, Tetrao and Nomoko.
The head of financial development for Luxembourg said a string of overseas banks and fund managers had explored moving London staff to the tiny country since the Brexit vote. Nicolas Mackel said there had been “strong interest” from the US and other non-EU firms assessing their options since June’s referendum.