Inversis strengthens its international strategy with the opening of a branch in Luxembourg
- The Spanish bank, a fully owned subsidiary of Banca March, began operations in Luxembourg on 31st May with the opening of a branch in this international market, following the execution of the agreement reached with Banque Havilland for the acquisition of its institutional depository business unit.
- Inversis' Luxembourg branch starts operations with a portfolio of almost EUR 3 billion in its depository services.
- The combination of Inversis' services as a custodian bank, together with its fund distribution platform and the services provided by Adepa (in which Inversis holds a 40% stake) make it the only Spanish firm offering a 360º solution for asset managers seeking to develop their product offering from Luxembourg.
Madrid, 4th June 2024. Inversis, a fully owned subsidiary of Banca March specialized in providing global solutions for the financial asset distribution business to other financial institutions, started operations in Luxembourg on 31st May following the execution of the agreement reached with Banque Havilland to take over its institutional depository business.
Once the necessary permits have been obtained, the Luxembourg branch of Inversis has started operations with the institutional team joining the bank from Banque Havilland and a business portfolio of approximately EUR 3 billion.
With this acquisition, Inversis offers a comprehensive service proposition to financial institutions wishing to develop their international product portfolio through Luxembourg-domiciled vehicles or to receive specialized securities services from Luxembourg.
Thanks to Inversis’ value proposition, asset managers and other financial institutions will be able to contract Adepa's services -either as a ManCo or as an administrator in the case of vehicles managed by other asset managers- and Inversis’ services, both as a depositary through its new Luxembourg branch, and through its investment fund distribution platform to facilitate access to and distribution of its products through the Inversis' network of institutional clients.
The Luxembourg branch will play a key role in Inversis' international strategy, as it will enable it to expand its offering from Luxembourg to existing institutional clients served from Spain and will serve as a business hub to serve international clients and incorporate new lines of business in line with those developed by Inversis in Spain. In line with its growth plan, Inversis expects to more than double the portfolio of the acquired depository business in the next 18 months.
Alberto del Cid, CEO of Inversis, stated: ‘The opening of our Luxembourg branch represents a key objective in our international strategy. The acquisition of the business previously owned by Banque Havilland, together with the business developed by Adepa, where we have a 40% stake, has turned us into the only Spanish firm operating in Luxembourg with 360º capacity to support Spanish and Latin American clients aiming at developing their international product strategy from this financial hub. We offer a truly global value proposition that combines fund management company and administration services with those of a custodian bank, as well as facilitate access to and distribution of clients' products through our fund distribution platform’.
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 21.26%) and also has one of the highest liquidity ratio in the sector (LCR of 325.9%).
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 level of 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.