Nordlux Vermögensmanagement S.A. (Nordlux) has agreed to acquire a modest portfolio of clients from the Deutsche Bank Group’s International Private Bank (IPB) in Luxembourg.
The acquisition allows Nordlux to further develop its client portfolio and asset base, while offering the portfolio of clients in the affluent client segment, the opportunity to benefit from Nordlux’s diverse offering of market-leading investment, insurance, banking and financial services.
Top tier custodian banks in Luxembourg and Germany will manage the client asset portfolios.
The agreement enables Deutsche Bank Luxembourg S.A. to continue its strategy of focusing its offering on the Ultra High Net Worth (UHNW) private client segment and family entrepreneurs, where these clients with sophisticated needs require highly customised financial products and services.
Nordlux Vermogensmanagement is pleased to take over an international client book of Deutsche Bank Luxembourg, being well positioned to satisfy the client requirements for individual investment advice and portfolio management especially in the client segment in scope of the transaction. Nordlux has executed several such transactions with leading Luxembourgish banks, whereby all parties concerned, notably the clients, were satisfied with the outcome.
Luca Derlin, Head of Deutsche Bank International Private Bank (IPB) in Luxembourg, said “We are pleased to have reached this agreement with Nordlux, marking a further step in expanding our business in Luxembourg, a key international hub for our Wealth Management activities in Europe. Deutsche Bank remains fully committed to our business and operations here, where our strategy to become the house of choice for family entrepreneurs and private clients in the Ultra High Net Worth segment is fully on track.”
About Deutsche Bank Luxembourg S.A.
Deutsche Bank Luxembourg S.A. (established 1970) provides commercial and investment banking, private banking and wealth management products and services to businesses, institutional investors and individuals. The bank is a direct subsidiary of the parent company, Deutsche Bank AG (established in 1870), and is one of the systemic banks in the Grand Duchy of Luxembourg. It is supervised by the European Central Bank (ECB).
Luxemburg, den 23.08.2021
Head Marketing and Communication
Nordlux Vermögensmanagement S.A., 23 a, rue Edmond Reuter,
5326 CONTERN, Luxembourg
Phone: +352 26198-376