LUXEMBOURG – ABN Amro Mellon Global Securities Services has launched a Luxembourg office with Ravi Thakur as general manager of the branch.
The company established its services in Luxembourg due to its “status as the world’s largest centre for investment funds after the US,” said a statement released by the global custody services giant.
The venture sees this as a strategic move in its bid to service key European markets for investment managers and multinationals. The Dutch incorporated bank already has branches in the Netherlands, London and Frankfurt.
Thakur, 35, was at Brown Brothers Harriman – one of America’s oldest and largest partnership banks - for 12 years before joining ABN Amro Mellon.
Experience gained while head of relationship management for BBH Luxembourg will assist in his forthcoming responsibilities of growing both ABN Amro Mellon and its market share in the region.
Thakur will head the new team. Speaking on its composition, ABN Amro Mellon spokesman Robert White commented, “It is currently a small and focussed team but we are looking to grow the numbers over the next year.”
Chief executive Nadine Chakar called the launch and appointment of Thakur “a major milestone”.
“I believe servicing Luxembourg funds is essential to our continued performance and growth, and I am delighted that we have established ourselves in this important market.”