Banque Havilland;
The ALEBA trade union has expressed its concerns over the fate of 132 employees in Luxembourg amid the potential withdrawal of Banque Havilland's banking licence.
On Tuesday 30 July 2024, Luxembourg-based Banque Havilland confirmed in a press release the decision "to cease its business activities in Liechtenstein and Switzerland and therefore to enter into the voluntary liquidation process with Banque Havilland (Liechtenstein) AG (including its Zurich branch)". It added: "Simultaneously, Banque Havilland (Liechtenstein) AG has renounced its banking licences in Liechtenstein and Switzerland".
Following the concerns expressed by "many" of its members, ALEBA has since met with members of the Banque Havilland staff delegation to advise them in the face of the possible imminent withdrawal of the bank's operating licence by the European Central Bank (ECB) and the Commission de Surveillance du Secteur Financier (CSSF).
ALEBA noted that "neither the ECB nor the CSSF have wished to comment on or confirm this possible decision", but the union "remains extremely concerned about the fate of the 132 employees in Luxembourg". It has called for the "utmost social responsibility" on the part of the current management to "ensure the best possible support" for the bank's employees.
ALEBA has also undertaken to "provide all employees with its unconditional support and sound advice to safeguard their best interests".
Furthermore, ALEBA expressed its "incomprehension" and "disapproval" of the current situation, arguing that "it is inconceivable that, once again, employees should have to suffer the consequences of the presumed irresponsibility of some in failing to comply with the obligations imposed by the regulator."
