ABN Amro Mellon Global Securities Services has launched a Luxembourg office, with Ravi Thakur as general manager.
The company established its services in Luxembourg due to its “status as the world’s largest centre for investment funds after the US,” says a statement released by the global custody services giant.
It sees this as a strategic move in its bid to service key European markets for investment managers and multinationals. The Dutch bank 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 at BBH Luxembourg will help him in growing both ABN Amro Mellon and its market share in the region.
ABN Amro Mellon chief executive Nadine Chakar calls the launch and appointment of Thakur “a major milestone”.
“I believe servicing Luxembourg funds is essential to our continued performance and growth, and am delighted we have established ourselves in this important market.”