U.S. Bank expands its Global Fund Services offerings, opens Luxembourg office
U.S. Bank today announced the opening of their Luxembourg office, which provides fund accounting and administration, domiciliation, depositary and custody-related services for Luxembourg-domiciled funds.
Didier Delvaux, who joined U.S. Bank earlier this year as Luxembourg Country Head, will oversee the office. He has more than 25 years of fund administration and custody experience. Prior to joining U.S. Bank, Delvaux was at State Street, where he was head of fund administration, and prior to that, chief operating officer, Luxembourg and Ireland.
“As we expand our Global Fund Services business, we’re committed to supporting clients’ needs with our customizable service offerings, state-of-the-art digital tools and exemplary client service,” Delvaux said. “Clients are looking for expertise they can trust; they want a provider with a deep understanding of the industry, investments and their goals. Given the complexity and volatility of the current regulatory and market environment, it’s essential for clients to find a provider who is intimately familiar with local regulatory nuances.
“Our initial focus will be on private equity and private debt funds, where our capabilities are unparalleled in the market. We are making a long-term commitment to the Luxembourg market, as demonstrated by our brand-new office in the Kirchberg financial center.”
U.S. Bank has had a presence in Europe for more than 14 years and has 10 offices housing more than 2,800 employees. U.S. Bank’s investment services division has more than $7.7 trillion in assets under custody and administration globally. In addition to offering alternative investment and fund administration services, they also offer investment services products such as custody, full depositary and global corporate trust products, including structured finance, conventional debt and collateralized loan obligations.
Delvaux added, “We take great pride in maintaining a strong and ethical reputation in the industry. With 50 years in the fund servicing business, backed by the power of the fifth largest commercial bank in the United States, U.S. Bank offers clients a level of service and financial strength that few in the industry can match.”
U.S. Bank is an active member of Luxembourg Private Equity and Venture Capital Association (LPEA), Association of the Luxembourg Fund Industry (ALFI) and Luxembourg for Finance (LFF) to remain deeply engrained in the local market.
About U.S. Bank
U.S. Bancorp, with more than 70,000 employees and $540 billion in assets as of Sept. 30, 2020, is the parent company of U.S. Bank National Association, the fifth-largest commercial bank in the United States. The Minneapolis-based bank blends its relationship teams, branches and ATM network with mobile and online tools that allow customers to bank how, when and where they prefer. U.S. Bank is committed to serving its millions of retail, business, wealth management, payment, commercial and corporate, and investment services customers across the country and around the world as a trusted financial partner, a commitment recognized by the Ethisphere Institute naming the bank one of the 2020 World’s Most Ethical Companies. Visit U.S. Bank at usbank.com or follow on social media to stay up to date with company news.
About U.S. Bank Global Fund Services
Our global fund services team combines industry-leading technology with high-quality customer service to offer customized product solutions for alternative investments, mutual funds and exchange-traded products. This team and our corporate trust and custody teams compose our Investment Services division, which in total, holds more than $7.7 trillion in assets under custody and administration. We operate a network of more than 4,500 employees in more than 105 offices across the U.S. and Europe to fully support your unique local, national and international needs. Grounded on the highest ethical standards, we partner with you to provide reliable and responsive corporate trust, custody and fund services tailored to our diverse client base. U.S. Bank Global Fund Services (Ireland) Limited is authorised and regulated by the Central Bank of Ireland under the Investment Intermediaries Act, 1995. For more information about our comprehensive investment services offerings, visit us at usbank.com/investmentservices.
Elavon Financial Services DAC Luxembourg Branch (trading as U.S. Bank Depositary Services Luxembourg) is registered in Luxembourg with RCS number B244276 and Registered Office: Floor 3, K2 Ballade, 4, rue Albert Borschette, L-1246 Luxembourg, regulated and authorised by the Central Bank of Ireland (CBI) as well as by the Commission de Surveillance du Secteur Financier (CSSF). Details about the extent of our authorisation and regulation by the CBI and the CSSF are available from us on request.
U.S. Bank Global Fund Services (Luxembourg) S.a.r.l. is registered in Luxembourg with RCS number B238278 and Registered Office: Floor 3, K2 Ballade, 4, rue Albert Borschette, L-1246 Luxembourg. U.S. Bank Global Fund Services (Luxembourg) S.a.r.l. is authorised and regulated by the Commission de Surveillance du Secteur Financier.
Kimberly Mikrot, U.S. Bank Public Affairs & Communications
firstname.lastname@example.org | 612.206.2553
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
C3.ai Digital Transformation Institute Announces Shell as New Industry Partner4.3.2021 20:00:00 CET | Press release
The C3.ai Digital Transformation Institute (DTI) today announced that global energy company Shell is the newest industry partner to join the consortium of universities, national laboratories, and companies that make up the Institute. Shell’s Chief Scientist - Computation and Data Science Detlef Hohl will represent the company in the consortium. The DTI Industry Partner Program enables leading companies from around the world to engage with DTI researchers and activities and to contribute data sets that will be available for research after anonymization. Industry partners also are encouraged to engage with Institute researchers and collaborate on research projects as well as participate in DTI conferences. DTI recently released its second call for proposals to fund advanced research projects focused on applying digital transformation and AI to address energy and climate security. “Shell has established clear leadership in new energy, having laid out its ‘Powering Progress’ commitment to
Dole Launches “The Dole Way” Sustainability Campaign4.3.2021 19:22:00 CET | Press release
Dole Food Company announced today the launching of an integrated sustainability campaign aimed at amplifying its commitment to the key enterprise-wide sustainability goals launched in 2020 under “The Dole Way.” As a leader in the produce industry for over 150 years, Dole believes in acting on its promise to increase sustainability, transparency, corporate responsibility and trust. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210304005912/en/ The Dole Way framework paves the way for further improvements in areas where Dole believes it can make the biggest positive impacts (Photo: Business Wire) “The Dole Way” campaign kicked-off with a live, internal event on February 25, led by Dole’s president and chief executive officer, Johan Linden, and will be sustained over the next several months through integrated earned and owned social media efforts. “The Dole Way” campaign illustrates a path of transformation that will recognize
Milliken & Company Appoints Cindy Boiter as Executive Vice President, Chemical Division President4.3.2021 18:00:00 CET | Press release
Milliken & Company is pleased to announce Cindy Boiter has been promoted to executive vice president and president of Milliken’s Chemical Division. Effective March 15, she will step into the role currently held by David Moody as he transitions to a role outside of Milliken. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210304005823/en/ Cindy Boiter, newly announced executive vice president and president of Milliken's Chemical Division (Photo: Business Wire) “It is an exciting appointment for our company, as Cindy will become the first-ever woman division president at Milliken,” shares Halsey Cook, president and CEO for Milliken. “She is uniquely qualified to lead our chemical division thanks to her extensive experience in the division, the acquisitions she has completed and her embodiment of Milliken’s purpose.” Boiter joined Milliken’s Chemical Division in 2012 as marketing, strategy and business development director and p
Verimatrix Takes Home Two 2021 Gold Cybersecurity Excellence Awards4.3.2021 17:45:00 CET | Press release
Regulatory News: Verimatrix, (Paris:VMX) (Euronext Paris: VMX), the leader in powering the modern connected world with people-centered security, today announced it won two gold awards in this year’s Cybersecurity Excellence Awards program. Verimatrix Multi-DRM won in the Digital Rights Management (North America) category while Verimatrix’s Application Shielding suite of products were recognized in the Automotive Security IoT (North America) category. It marks the third straight year the company has received honors from the award program that pays tribute to a wide variety of cybersecurity companies spanning the world’s largest vendors to the most recent startups. Verimatrix’s code shielding and embedded security capabilities picked up kudos in previous years. “The automotive industry stands as a superb example of a vertical where Verimatrix uniquely addresses multiple cybersecurity needs – in this case, vital components such as keyless entry mobile apps and infotainment systems, said A
Andersen Global Strengthens Presence with Jordanian Tax Firm4.3.2021 15:30:00 CET | Press release
Andersen Global enters into a Collaboration Agreement with Amman-based tax firm Al-Tillawi & Al-Khateeb Co., adding dimension to the existing capabilities of the organization’s member firm in Jordan. Founded in 1996, Al-Tillawi & Al-Khateeb Co. provides a wide range of tax and advisory services including corporate and family business, employment, mergers and acquisitions, outsourcing and social security as well as IT solutions. The firm, led by Managing Partner Waleed Al Tillawi, serves a broad clientele in industries such as power and energy, technology and communication, hotel and tourism, finance and retail. “Our team’s dedication to transparency and independence have been the driving forces behind the high-quality client services we provide,” Waleed said. “Collaborating with like-minded individuals at Andersen Global will allow us to take our service offerings to the next level and expand our reach more broadly. We look forward to working with the organization’s member and collabor
Business Finland Awarded Funding for Medicortex4.3.2021 15:08:00 CET | Press release
Medicortex Finland Oy, a Finnish biotechnology company focusing on brain injury diagnostics and drug development, announces receiving funding from the Finnish government innovation funding branch Business Finland. The funds are meant to expedite the development of a medical diagnostic test to improve detection of traumatic brain injury (TBI) and concussion. Medicortex has discovered novel biomarkers of head injury in body fluids such as saliva and urine. The funding which covers 50% of the expenses will support a project consisting of the development of a test kit for easy and rapid detection of brain injury and concussion. The objective of the company’s biomarker program is to generate new means for early detection of brain injury, which is a global unresolved issue. Current methods of brain injury diagnostics which are based on neurological examination and imaging do not reliably detect mild injury, yet they can have implications that are fatal or develop into a chronic condition if
Kent County Council Switches to Rimini Street Support for its Oracle Applications and Database Software4.3.2021 15:05:00 CET | Press release
Rimini Street, Inc. (Nasdaq: RMNI), a global provider of enterprise software products and services, the leading third-party support provider for Oracle and SAP software products and a Salesforce partner, today announced that Kent County Council, the largest County Council in England, is switching support for its Oracle E-Business Suite 12.1 application and Oracle Database software to Rimini Street. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210304005642/en/ Kent County Council Switches to Rimini Street Support for its Oracle Applications and Database Software. (Photo: Business Wire) Digital Transformation Possible, Even with Constrained IT Budgets Like other public sector bodies in the UK, Kent County Council is under significant pressure to allocate its annual budget effectively to meet the challenges affecting the county. With 1,759 core users and 21,096 self-service users spread across the organization, as well as sch
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.Visit our pressroom