Bank of America opens Luxembourg office in bid to grow European funds

Mark Battersby
clock • 1 min read

Bank of America said on 10 May that it has opened a new branch in Luxembourg as part of its strategic plan to build funds in Europe.  The launch means the bank can support clients - corporate, commercial and NBFIs (non-bank financial institutions) - with setting up local bank accounts and provide in-country transaction banking products and services, it said in the statement.  "In particular, as Luxembourg is the second largest investment fund centre in the world, after the United States, the bank will deepen its global cash management services to these NBFIs." Fernando Vicario, CEO...

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