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
Disruptive Tech Asean Comments That Semiconductor Industry in China Eyes on a New Beyond the Manufacturing Of 7nm Chips3.12.2020 11:00:00 CET | Press release
Disruptive Tech Asean learnt from Li Ke from China Semiconductor Industry Association (CSIA) that an integrated circuit industry is vital for developing modern industries, and China is therefore imperative to localize chip industry supply chain and develop homegrown-core chips. Li Ke believes that China will have the ability to fully mass-produce its own 28nm chips in one or two years, as well as having a completely domestic industry chain and independent chip manufacturing capabilities. According to Gartner’s forecast at the end of 2019, the global semiconductor market would grow by 12.5% in 2020. Yet, with devastating impacts of the COVID-19 pandemic, the forecast was revised to a decline of 0.9%. According to Andrew Norwood, Research Vice President at Gartner, “COVID-19 has distorted supply chain and manufacturing operations across the world and will lead to a drastic drop in consumer and enterprise spending across most areas with a few exceptions.” The US-China trade war has also c
LivaNova and Gyrus Capital Enter into Agreement for the Purchase of Heart Valve Business3.12.2020 11:00:00 CET | Press release
LivaNova PLC (NASDAQ:LIVN), a market-leading medical technology and innovation company, and Gyrus Capital (Gyrus), an investment firm dedicated to investments in the healthcare and sustainability sectors, today announced they have entered into an agreement whereby entities funded and controlled by Gyrus will acquire the LivaNova heart valve (HV) business. The LivaNova Board of Directors unanimously approved the divestiture, which it believes will enable the Company to sharpen its focus within its primary platforms, neuromodulation and cardiovascular, and to dedicate increased resources toward executing its promising pipeline opportunities. Once the transaction is complete, Gyrus intends to focus management attention and investment on the HV business to position it to become a leading player in the surgical heart valve market globally, translating into even greater opportunities for employees, customers and patients. This press release features multimedia. View the full release here: ht
Telefonica UK (O2) and IDEMIA Working to Securely Connect 23 Million Homes in the UK With Smart Meters By 20253.12.2020 10:30:00 CET | Press release
O2 in partnership with IDEMIA, the global leader in Augmented Identity, has today supplied secure connectivity to over 4 million UK homes with a second generation Smart Meter. The rollout will continue into the future, supporting the UK government program to deploy Smart Meters for all UK households and small businesses. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201203005370/en/ (Photo: Business Wire) As part of the transition to a flexible energy market that requires a low carbon economy and sustainable consumption habits, smart meters give consumers near real-time information on energy helping them to take control of their energy usage and bring an end to estimated billing. Smart meters come with in-home displays to enable consumers to have a better understanding of their energy usage. Against that backdrop, customers using the latest generation of smart meters are reporting an average saving of around 10% per month.
Measuring What Matters: A New Approach to Assessing Sovereign Climate Risk3.12.2020 09:23:00 CET | Press release
Moody’s affiliate Four Twenty Seven today released a report analyzing the future exposure of the global population, the economy, and agriculture to a range of climate hazards, exploring both global trends and findings by country. Leveraging new analytics developed by Four Twenty Seven, the report assesses exposure to floods, heat stress, hurricanes and typhoons, rising sea levels, wildfires, and water stress and is based on the only known global dataset matching physical climate risk exposure to population location, GDP Purchasing Power Parity (PPP), and agricultural areas within countries. “This novel dataset provides a detailed view of the exposure of key human and economic assets around the world. Understanding exposure is critical for investors and credit institutions to price climate risk, but also to help direct finance flows towards adaptation and resilience where they’re most needed,” says Emilie Mazzacurati, Global Head of Moody’s Climate Solutions in Moody’s ESG Solutions Gro
PMI Commits to Disability Inclusion by Joining The Valuable 5003.12.2020 09:05:00 CET | Press release
Philip Morris International Inc.(PMI) (NYSE: PM) today announced that CEO André Calantzopoulos has joined The Valuable 500—a global movement putting disability inclusion on the business leadership agenda. Signing on to this initiative marks another significant step in PMI’s journey of advancing inclusion and diversity in the workplace. André Calantzopoulos said: “Businesses with a global operating footprint, such as PMI, can make a meaningful impact by ensuring that everyone—including individuals with a disability—can prosper in the workplace. By signing The Valuable 500, I am proud to join forces with a host of other CEOs who are challenging their organizations and the business world to broaden the focus of their inclusion and diversity efforts, and to help create a more inclusive world for the 1.3 billion people with disabilities. This is the right thing to do as part of our broader work to create a more equitable society. And it is also the smart thing to do, allowing PMI to tap int
Siemens Smart Infrastructure Chooses AWS as Its Preferred Cloud Provider for SAP Environments3.12.2020 09:01:00 CET | Press release
Today, Amazon Web Services (AWS), an Amazon.com company (NASDAQ: AMZN), announced that Siemens Smart Infrastructure, a business of the Siemens AG group focusing on energy distribution and intelligent buildings, is moving its SAP infrastructure to AWS. The business will migrate over 20 Enterprise Resource Planning (ERP) and Supply Chain Management (SCM) systems,based on SAP HANA, to AWS before the end of 2021. These systems support business-critical processes in areas such as manufacturing, operations, and sales across different business units including Building Products, Electrical Products, Digital Grid, and Distribution Systems. Moving these workloads to AWS will enable Siemens Smart Infrastructure to significantly shorten hardware refresh cycles, increase agility to test and deploy new systems, and provide the foundation for the company’s future transformation using SAP S/4HANA technology. This is the first migration of production-scale SAP systems to the cloud across the Siemens AG
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