Zedra announces Luxembourg acquisition

Posted: 24/03/2021

Wim Ritz_ZedraLux_oct20Zedra has announced the acquisition of BFCS, the fund and corporate services arm of Banque Internationale à Luxembourg. 

The transaction, which is subject to regulatory approval by local regulator the Commission de Surveillance du Secteur Financier, will add to Zedra’s fund and related corporate services offering in Luxembourg. 

Established more than 50 years ago, BFCS offers a suite of services and solutions in the corporate and funds sector, ranging from central administration for alternative investment funds, to legal secretarial, domiciliation, management, accounting, investor reporting and ESG services. 

BFCS’s clients include high-net-worth individuals, asset managers, investment and real estate fund professionals.

Zedra says the deal reinforces its commitment to developing and investing in fund administration services. The group already has teams for regulated funds in Jersey, Guernsey, the Cayman Islands and Singapore. 

On regulatory approval, the BFCS business will be fully integrated within Zedra and its staff will move to Zedra’s Luxembourg offices.

Wim Ritz (pictured), who became Zedra's Global Head of Funds, based in Luxembourg, last October, said: “This is a significant milestone for Zedra as it will bring additional scale and expertise to our Luxembourg office. It underpins our view that Luxembourg is the hub and centre for excellence in the EU for fund management.”

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