ZEDRA Confirms Completion of the Acquisition of BFCS Luxembourg, to Be Renamed ZEDRA FUND SERVICES

• ZEDRA has received approval from Luxembourg's financial regulator (‘CSSF’) to acquire the fund and corporate services (« BFCS ») arm of Banque Internationale à Luxembourg (« BIL »)
• ZEDRA focussed on developing a robust international fund administration business

LUXEMBOURG--(BUSINESS WIRE)--ZEDRA, the fast-growing global specialist in Funds, Corporate & Global Expansion services as well as Active Wealth solutions today announces that it has received regulatory approval to acquire BFCS, the fund and corporate services arm of Banque Internationale à Luxembourg (‘BIL’), from Luxembourg's financial regulator, the Commission de Surveillance du Secteur Financier (‘CSSF’).

BFCS’s wide array of services in both the corporate and funds’ sectors, ranging from central administration for alternative investment funds, to corporate secretarial, domiciliation, management, accounting, investor reporting and ESG services, strengthens and complements ZEDRA’s existing fund and corporate services offering in Luxembourg.

The BFCS business will be integrated within ZEDRA with a seamless transition of its existing clients, mainly consisting of high-net-worth individuals, asset managers, investment and real-estate fund professionals. BFCS staff joining ZEDRA will relocate to their renovated Luxembourg offices.

Wim Ritz, Global Head of Funds at ZEDRA, commented: “The deal reflects our ambition to be recognized as a leading fund formation and administration provider globally. Adding BFCS to our established teams for regulated funds in Jersey, Guernsey, the Cayman Islands and Singapore, will enable us to further develop our European capabilities from Luxembourg, a major investment fund centre in Europe. We welcome the BFCS team and their valuable clients and are looking forward to closely collaborating with them.”

Hans-Peter Borgh, Chairman of the Board of BFCS and Group Head International BIL Group commented: “We are looking forward to the cooperation with ZEDRA Fund Services, providing an excellent service to our clients. The completion of this deal is an important milestone in our strategic approach to focus on our core business. “

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Notes to Editors

For more information, please visit https://www.zedra.com/