Banco Inversis, a fully-owned subsidiary of the Spanish investment bank and financial services company Banca March, announced that it began operations in the grand duchy on 31 May 2024 with the opening of a branch. This comes after the execution of the to take over its institutional depository business. Banque Havilland last year decided to focus more on its private banking activities.

“The opening of our Luxembourg branch represents a key objective in our international strategy.” said Alberto del Cid, CEO of Inversis, in a published on 4 June. “The acquisition of the business previously owned by Banque Havilland, together with the business developed by Adepa, where we have a 40% stake, has turned us into the only Spanish firm operating in Luxembourg with 360º capacity to support Spanish and Latin American clients aiming at developing their international product strategy from this financial hub.”

The communiqué noted that the Luxembourg branch started operations with a portfolio of roughly €3bn in its depositary services. The acquisition allows Inversis to offer a “comprehensive service proposition to financial institutions wishing to develop their international product portfolio through Luxembourg-domiciled vehicles or to receive specialised securities services from Luxembourg.”

The new branch will play an important role in Inversis' international strategy, said the press release, enabling it to expand its offering from Luxembourg to existing institutional clients served from Spain and serving as a hub for international clients. Inversis plans to “more than double the portfolio of the acquired depository business in the next 18 months.”

Banco Inversis was created in 2001. Besides being an investment product platform, it also provides brokerage, settlement and custody services, and technological outsourcing solutions. According to a filing in the Luxembourg Business Registers, Inversis’ branch is located at 35A Avenue Jon F. Kennedy in Kirchberg.