U.S. Bank has opened a new office in Luxembourg, which will provide fund accounting and administration, domiciliation, depositary and custody-related services for Luxembourg-domiciled funds.
Didier Delvaux, who joined U.S. Bank earlier this year as Luxembourg country head, will oversee the office.
Prior to joining U.S. Bank, Delvaux was at State Street, where he was head of fund administration, and prior to that, chief operating officer, Luxembourg and Ireland.
The new office will initially focus on private equity and private debt funds.
U.S. Bank said it is making a long-term commitment to the Luxembourg market, as demonstrated by its new office in the Kirchberg financial centre.
Delvaux commented: “As we expand our global fund services business, we’re committed to supporting clients’ needs with our customisable service offerings, state-of-the-art digital tools and exemplary client service.”
U.S. Bank is an active member of Luxembourg Private Equity and Venture Capital Association (LPEA), Association of the Luxembourg Fund Industry (ALFI) and Luxembourg for Finance (LFF) to remain deeply ingrained in the local market.
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