Banque Havilland Sells Institutional Banking Activities to Banco Inversis

Luxembourg-based Banque Havilland has announced the sale of its depositary and custody and related services business to to Banco Inversis.

With the launch of the new strategy, "Excellence 2024", Banque Havilland has decided to focus on the private banking business to strengthen its value proposition in the long term.

Marc Arand, Group CEO of Banque Havilland, said: "The decision to sell the 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." He continued: "We are aligning our organisational structure even more consistently with the needs of our core customers and focusing on private banking. The choice of 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."

Inversis, a fully-owned subsidiary of Spain's Banca March, is expected to take over Banque Havilland's institutional banking activities and clients by the end of 2023, subject to regulatory approvals. According to Banque Havilland, the colleagues working for this business area will be transferred to Inversis, "at unchanged conditions and benefits", in the same time frame.

"We are confident that with Inversis we have found a buyer who is culturally close to us, offers convincing products and services for our clients and with whom we can shape the transition in a cooperative manner for all parties involved," said Massimoluca Mattioli, Head of the IB Business Line of Banque Havilland. "We are very thankful to our IB team for their precious contribution to grow the business over the past years."

Alberto del Cid, CEO of Inversis, added: "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."