On 29 February 2016, Banque Havilland S.A. and Banco Popolare Societa Cooperativa announced the acquisition of 100% of the share capital of Banco Popolare Luxembourg S.A. by Banque Havilland S.A..

This transaction has been approved by the appropriate supervisory authorities and is aligned with the strategy of the Banque Havilland group to expand their ultra high net worth (UHNW) client base in Europe. The banks tated that, in addition, it will also bring further strategic capabilities to the bank in the shape of a platform to service investment funds and institutional clients. The transaction will provide for continuity of services for the Banco Popolare Luxembourg private and institutional clients, allowing them to retain their investment relationships.

Jean-François Willems, CEO at Banque Havilland S.A. said “The acquisition of Banco Popolare Luxembourg S.A. will reinforce our position in the European wealth management market and importantly for us it will provide a platform for delivering fund. This is a logical flow from our private banking services, in response to our client’s demands and their increasing appetite for investment fund products.”