Inversis boosts its international expansion with the acquisition of Banque Havilland's institutional depository business in Luxembourg
- Inversis will apply for the necessary permissions to open a branch in Luxembourg.
- Inversis launches a unique value proposition in Luxembourg for investment fund managers by combining the three key services: Adepa's services as management company or administrator, and Inversis as depositary bank and fund distribution platform.
Madrid, 20th April 2023. Inversis, fully owned subsidiary of Banca March Group specialized in the provision of global solutions for distribution business of financial instruments aimed at other financial institutions, has reached an agreement to acquire the institutional depositary business of the Luxembourg-based Banque Havilland.
With this transaction, which involves the acquisition of a business portfolio of around EUR 3 billion and the necessary application to open a branch in Luxembourg, Inversis boosts its international business growth plans. The agreements reached with Banque Havilland also include the transfer of all human and material resources in connection with the acquired business that, as a key priority in the transfer of this business, will allow a full continuity and smooth transition of these services to the existing clients of Banque Havilland.
This acquisition follows on from the agreement reached by the end of last year with the Luxembourg group Adepa, which is specialized in the provision of management and administration services for investment vehicles.
Following this latest acquisition, Inversis is setting up a comprehensive offering aimed at financial institutions seeking to develop their portfolio of international products through Luxembourg-domiciled vehicles or to receive specialized securities services from Luxembourg. Thanks to Inversis’ value proposition, asset managers and other financial companies will be able to contract the services of Adepa, either as ManCo or as administrator in case of vehicles managed by other asset management companies, and the services of Inversis, both as depositary through its forthcoming Luxembourg branch, as well as those of its investment fund distribution platform, to facilitate access and distribution of their products through Inversis’ institutional clients base.
Further to the development of the depositary business, Inversis will explore new opportunities from its Luxembourg branch that will contribute to the development of its international business with institutional clients from other jurisdictions, mainly from European and Latin American markets.
As stated by Alberto del Cid, CEO of Inversis: "Our strategy, from the outset, has been marked by the same ambition: to provide our institutional clients with comprehensive and global solutions as catalysts for their business of distributing financial assets to their end clients. All this with a vision and ambition to drive our international business forward. This acquisition and the upcoming opening of our branch in Luxembourg, together with the agreement reached with Adepa, makes us the only Spanish firm present in Luxembourg with a unique capacity to support Spanish and Latin American clients in the development of their international product strategy from Luxembourg. We are going to be able to deliver a truly global value proposition that combines the services of a fund manager and administrator, a custodian bank, as well as facilitating access and distribution of clients' products through our fund distribution platform”.
Marc Arand, Group CEO of Banque Havilland said "The decision to sell the institutional depositary and custody, and related services activity was not an easy one to make, but it is the right one for our Group and for all our stakeholders. We have carefully evaluated our portfolio and determined that our future success will come from focusing on our core businesses where we have a strong competitive advantage. We are aligning our organisational structure even more consistently with the needs of our core customers and focusing on Private Banking. The choice of Banco Inversis, a global reference in this business area, will ensure to maintain the highest quality and continuity of service and the ability to offer tailor-made solutions to our institutional clients.”
About Inversis
Inversis, a fully owned subsidiary of Banca March, is the leading company in Spain in the provision of global investment technology solutions and outsourcing of financial services to financial institutions, insurance companies and new entrants in the distribution business of investment products. Banca March is the most solvent bank in Spain (CET 1 of 17.66%) and also has one of the highest liquidity ratio in the sector (LCR of 284.81%).
Since its incorporation, Inversis has been constantly investing in cutting-edge technology and innovation in order to adapt quickly to the needs of their institutional clients. Leveraged on its technology, Inversis is able to provide services to the final beneficiary level of its institutional clients. Thus, the institutional clients can outsource activities and processes that are not part of their core business to Inversis, and thereby increasing their efficiency.
Inversis stands out for its one-stop-shop solutions aimed at other financial institutions and new entrants in the distribution business of financial instruments. These services, in addition to covering all regulated investment services (reception, transmission and execution of orders, settlement of transactions and custody and administration of holdings of financial instruments) of any asset classes (equities, fixed income, derivatives, etc.), as they are provided at the final client leve lof its institutional clients, allow financial companies to fully outsource their securities operations, including technological solutions for its institutional clients’ users, either final clients or employees. In addition, Inversis runs its own funds distribution platform, Funds Globe, and specific solutions aimed at the management companies of this kind of vehicles (management company & administration, and depositary bank services). With the combination of these services and its distribution platform, Inversis provides a unique global solution for asset managers.