CACEIS Bank Luxembourg and Fastnet Luxembourg become single entity
Following the recent acquisition by the CACEIS group of the remaining 47.8% stake in Fastnet Luxembourg, CACEIS now holds a 100% stake in the company. As a result, with two fullyowned entities in Luxembourg the decision has been taken to merge Fastnet Luxembourg into CACEIS Bank Luxembourg with effect from 1st July 2011. The new merged entity will operate under the CACEIS Bank Luxembourg name.
According to Pierre Cimino, Managing Director of CACEIS Bank Luxembourg, "This merger is another step that can enhance and accelerate the development of CACEIS in Luxembourg."