Banque Havilland Liquidation Leads to Asset Transfer to Sigma Bank

Banque Havilland in Liechtenstein is undergoing voluntary liquidation, with its remaining client assets, once totaling CHF 1.6 billion, now being transferred to Sigma Bank. The deal, confirmed by the liquidator KPMG, is characterized as a referral arrangement rather than an asset deal, with significant uncertainty surrounding the exact amount of assets still available.

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Messi launches real estate investment trust in Spain with 223 million euro cap

Lionel Messi’s real estate investment trust, Edificio Rostower, debuted in Spain with a market cap of 223 million euros, trading at 57.4 euros per share. Currently, the trust is solely owned by Messi’s family investment vehicle, Limecu Espana 2010, but plans to open to new investors. The company, which owns several properties including hotels and apartments in Spain, London, and Paris, reported a loss of 1.7 million euros in 2023.

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Major Data Leak Exposes Wealthy Clients of Zurich Financial Firm

A significant data breach has hit Boreal Capital Management in Zurich, exposing sensitive information of around 700 clients, including Politically Exposed Persons from Spain, Portugal, Andorra, and Venezuela. The stolen 50 gigabytes of data, now in the hands of the ICIJ, reveals client assets held at major banks like UBS and Pictet. Boreal confirmed a cybersecurity incident linked to an external malicious group, with initial reports incorrectly implicating the law firm Walder Wyss.

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Banking License Withdrawal Triggers Sale Efforts for Banque Havilland Subsidiaries

The ECB’s banking supervisory authority revoked Banque Havilland’s license in Luxembourg, prompting the search for buyers for its subsidiaries in Monaco and Liechtenstein. Andbank withdrew from acquiring the Monaco branch, while a consortium of private individuals, including industry heavyweight Martin Gilbert, is set to take over, pending regulatory approval. In Liechtenstein, EFG International is emerging as a likely buyer as the subsidiary prepares for an asset deal following its decision to self-liquidate.

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