GLOBAL LIST of FGDR MEMBERS Updated on March 24Th, 2021
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Q4 Outlook 2020
Q4 2020 OUTLOOK Banque Havilland is a Private Banking Group established in 2009. The Bank is headquartered in Luxembourg with offices in London, Monaco, Liechtenstein, Dubai and Switzerland. The Group provides private banking, asset and wealth management services and institutional banking services to High Net Worth families and individuals from all over the world. TABLE OF CONTENTS MARKET ENVIRONMENT 4 EQUITIES 9 BONDS 12 COMMODITIES AND CURRENCIES 15 MARKET ENVIRONMENT As we move into the final three months of at home’ theme and certain technological what has been a quite extraordinary year, trends were brought forward by the Covid investors are faced with both imminent outbreak, but even since then the Nasdaq and long-term challenges that on the has rallied a further 30% before the recent surface will require perhaps more intricate pull-back. The performance of growth and and thoughtful planning than has been momentum stocks versus so-called value necessary for some time. stocks has also widened to extreme levels, more so than any point in history, with At global level, the rebound of risk assets earnings per share in the value category since the Covid-inspired nadir of March 23rd having declined by 50% year-on-year by has been so furious that we have reached an aggregate compared with a 15% decline inflection point far earlier than could have for growth. Conversely, many other global been anticipated, as unprecedented central indices are still very much in the red and bank and government stimulus has seen many even then with big gaps between the indices financial assets recover or surpass their pre- of neighbouring economies (eg. -
High Court Judgment Template
Neutral Citation Number: [2021] EWHC 2172 (Comm) Case No: CL-2019-000238 IN THE HIGH COURT OF JUSTICE QUEEN'S BENCH DIVISION COMMERCIAL COURT Royal Courts of Justice Strand, London, WC2A 2LL Date: 30 July 2021 Before : DAVID EDWARDS QC SITTING AS A JUDGE OF THE HIGH COURT - - - - - - - - - - - - - - - - - - - - - Between : THE STATE OF QATAR Claimant - and - (1) BANQUE HAVILLAND SA (a company incorporated under the laws of Luxembourg) (2) VLADIMIR BOLELYY Defendants - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - David Mumford QC, Mr Thomas Munby and Mr Hugo Leith (instructed by Macfarlanes LLP) for the Claimant David Quest QC and Mr Philip Hinks (instructed by Reed Smith LLP) for the Defendants Hearing dates: 21 June 2021 - - - - - - - - - - - - - - - - - - - - - Approved Judgment I direct that no official shorthand note shall be taken of this Judgment and that copies of this version as handed down may be treated as authentic. ............................. DAVID EDWARDS QC “Covid-19 Protocol: This judgment was handed down by the judge remotely by circulation to the parties’ representatives by email and release to Bailii. The date and time for hand-down is deemed to be 30 July 2021 at 10:30 am” DAVID EDWARDS QC Qatar v Banque Havilland SA & Another SITTING AS A JUDGE OF THE HIGH COURT Approved Judgment David Edwards QC : Introduction 1. On 5 March 2020 a first case management conference (“CMC”) in this action was heard by Cockerill J. Her order gave directions to trial in the usual way. Paragraph 15 provided that there should be a further CMC on the first available date after 9 December 2020 for the determination of any outstanding matters relating to disclosure and expert evidence. -
List of PRA-Regulated Banks
LIST OF BANKS AS COMPILED BY THE BANK OF ENGLAND AS AT 2nd December 2019 (Amendments to the List of Banks since 31st October 2019 can be found below) Banks incorporated in the United Kingdom ABC International Bank Plc DB UK Bank Limited Access Bank UK Limited, The ADIB (UK) Ltd EFG Private Bank Limited Ahli United Bank (UK) PLC Europe Arab Bank plc AIB Group (UK) Plc Al Rayan Bank PLC FBN Bank (UK) Ltd Aldermore Bank Plc FCE Bank Plc Alliance Trust Savings Limited FCMB Bank (UK) Limited Allica Bank Ltd Alpha Bank London Limited Gatehouse Bank Plc Arbuthnot Latham & Co Limited Ghana International Bank Plc Atom Bank PLC Goldman Sachs International Bank Axis Bank UK Limited Guaranty Trust Bank (UK) Limited Gulf International Bank (UK) Limited Bank and Clients PLC Bank Leumi (UK) plc Habib Bank Zurich Plc Bank Mandiri (Europe) Limited Hampden & Co Plc Bank Of Baroda (UK) Limited Hampshire Trust Bank Plc Bank of Beirut (UK) Ltd Handelsbanken PLC Bank of Ceylon (UK) Ltd Havin Bank Ltd Bank of China (UK) Ltd HBL Bank UK Limited Bank of Ireland (UK) Plc HSBC Bank Plc Bank of London and The Middle East plc HSBC Private Bank (UK) Limited Bank of New York Mellon (International) Limited, The HSBC Trust Company (UK) Ltd Bank of Scotland plc HSBC UK Bank Plc Bank of the Philippine Islands (Europe) PLC Bank Saderat Plc ICBC (London) plc Bank Sepah International Plc ICBC Standard Bank Plc Barclays Bank Plc ICICI Bank UK Plc Barclays Bank UK PLC Investec Bank PLC BFC Bank Limited Itau BBA International PLC Bira Bank Limited BMCE Bank International plc J.P. -
UCITS IV Plenum CAT Bond Fund
UCITS IV Trust Agreement Including the fund-specific Appendix and Prospectus July 1st 2016 Plenum CAT Bond Fund UCITS according to Liechtenstein law in the legal form of a trusteeship (hereinafter referred to as “UCITS”) (Single fund) Management Company CAIAC Fund Management AG Haus Atzig, Industriestrasse 2, FL-9487 Bendern, www.caiac.li Plenum CAT Bond Fund Trust Agreement & Prospectus Organization of the UCITS at a glance Management Company: CAIAC Fund Management AG Haus Atzig, Industriestrasse 2, FL-9487 Bendern Board of Directors: Dr. Roland Müller Dr. Dietmar Loretz Gerhard Lehner Executive Board: Thomas Jahn Raimond Schuster Asset manager: Plenum Investments AG Brandschenkestrasse 41, CH-8002 Zürich Custodian: Banque Havilland (Liechtenstein) AG Austrasse 61, FL-9490 Vaduz Share register: Banque Havilland (Liechtenstein) AG Austrasse 61, FL-9490 Vaduz Sales Office: CAIAC Fund Management AG Haus Atzig, Industriestrasse 2, FL-9487 Bendern Auditor UCITS: Deloitte (Liechtenstein) AG Landstrasse 123, FL-9495 Triesen Auditor Management Company: ReviTrust Grant Thornton AG Bahnhofstrasse 15, FL-9494 Schaan Representatives and Distributors ACOLIN Fund Services AG in Switzerland: Affolternstrasse 56, CH-8050 Zürich Paying agent in Switzerland: Frankfurter Bankgesellschaft (Switzerland) AG Börsenstrasse 16, P.O. Box, CH-8022 Zurich Paying and information agent DZ BANK AG in Germany: Platz der Republik 60, D-60265 Frankfurt Paying agent in Austria: Erste Bank der österreichischen Sparkassen AG Graben 21, A-1010 Vienna Tax representative in -
The 2008 Icelandic Bank Collapse: Foreign Factors
The 2008 Icelandic Bank Collapse: Foreign Factors A Report for the Ministry of Finance and Economic Affairs Centre for Political and Economic Research at the Social Science Research Institute University of Iceland Reykjavik 19 September 2018 1 Summary 1. An international financial crisis started in August 2007, greatly intensifying in 2008. 2. In early 2008, European central banks apparently reached a quiet consensus that the Icelandic banking sector was too big, that it threatened financial stability with its aggressive deposit collection and that it should not be rescued. An additional reason the Bank of England rejected a currency swap deal with the CBI was that it did not want a financial centre in Iceland. 3. While the US had protected and assisted Iceland in the Cold War, now she was no longer considered strategically important. In September, the US Fed refused a dollar swap deal to the CBI similar to what it had made with the three Scandinavian central banks. 4. Despite repeated warnings from the CBI, little was done to prepare for the possible failure of the banks, both because many hoped for the best and because public opinion in Iceland was strongly in favour of the banks and of businessmen controlling them. 5. Hedge funds were active in betting against the krona and the banks and probably also in spreading rumours about Iceland’s vulnerability. In late September 2008, when Glitnir Bank was in trouble, the government decided to inject capital into it. But Glitnir’s major shareholder, a media magnate, started a campaign against this trust-building measure, and a bank run started. -
Page 01 New Nov 10.Indd
3rd Best News Website in the Middle East BUSINESSB | 17 QATAR SPORT | 24 UNDER SIEGE Qatar-India trade TH Maikel guides VDL volume at 159 Groep Verdi Tn to QR31bn last year DAY spectacular win Friday 10 November 2017 | 21 Safar 1439 www.thepeninsulaqatar.com Volume 22 | Number 7341 | 2 Riyals Emir performs Emir visits Emiri Guard buildings at Barzan Camp Istisqaa prayer Emir H H Sheikh Tamim bin Hamad Al Thani visited the Emiri Guard buildings at the Barzan Camp yesterday morning. During the visit, the Emir was briefed on the various facilities at the camp and listened to a detailed explanation about the technical equipment that it contains. mir H H Sheikh Tamim bin Hamad Al Thani performed the Istisqaa (rain-seeking) prayer Eat Al-Wajbah prayer ground yesterday Emir invites morning. Exposed: UAE planned to wage H H Sheikh Jassim bin Hamad Al Thani, Per- Advisory Council sonal Representative of H H the Emir; H H Sheikh Abdullah bin Khalifa Al Thani and H E Sheikh Jas- to convene on sim bin Khalifa Al Thani took part in the prayer. financial war, steal FIFA 2022 A number of Their Excellencies Sheikhs and November 14 Ministers, Speaker of the Advisory Council, his Dep- uty and members of the Council, as well as a mir H H Sheikh Tamim gathering of citizens also performed the prayer. The plan was found in the bin Hamad Al Thani UAE planned to force Qatar to share 2022 World Cup, In a sermon after the prayer, Dr. Sheikh Thaqeel task folder of an email Eissued yesterday Decree Al Shammari urged the worshippers to repent, ask according to the outline. -
Collective Bargaining Agreement for Bank Personnel
ASSOCIATION DES BANQUES ET BANQUIERS LUXEMBOURG COLLECTIVE BARGAINING AGREEMENT FOR BANK EMPLOYEES 2011 – 2013 This text is a translation of the French version. In case of any divergence between the French text and the English text, the French text shall prevail. Contents Art. 1. - Area of application ................................................................. 6 Art. 2. - Duration - Notice of termination ............................................. 6 Art. 3. - Recruitment ........................................................................... 6 Art. 4. - Trial period ............................................................................ 7 Art. 5. - Cessation of the contract ....................................................... 7 Art. 6. - Working hours........................................................................ 9 Art. 7. - Working time ......................................................................... 9 Art. 8. - Overtime work ..................................................................... 11 I. Overtime work ...................................................................................................... 11 II. Qualification of additional hours ........................................................................... 12 III. Work on Sundays.................................................................................................. 13 IV. Work on public holidays........................................................................................ 13 V. Night work ........................................................................................................... -
CONSOLIDATED ANNUAL REPORT 2018 List of Contents
CONSOLIDATED ANNUAL REPORT 2018 List of contents CONSOLIDATED MANAGEMENT REPORT 3 AUDIT REPORT 6 CONSOLIDATED BALANCE SHEET 14 CONSOLIDATED OFF BALANCE SHEET 16 CONSOLIDATED PROFIT AND LOSS ACCOUNT 17 NOTES TO THE CONSOLIDATED ANNUAL ACCOUNTS 20 CONSOLIDATED MANAGEMENT REPORT MANAGEMENT REPORT The financial performance of the Group in 2018 depicts the strategic moves, the diminution of In 2018, the Group continued to implement the risk appetite and the evolution of financial the strategy and the risk appetite framework markets, but at the same time the Group is developed in late 2017 and which has pleased to announce another profitable year. resulted in a repositioning towards core markets and in lowering the overall risk As part of the continued reduction in risk profile. Consequently, the Group focused its appetite the balance sheet has been reduced business development on low and medium by 18% to EUR 1.560bn, mainly through risk activities, finalized the disposal of the the decrease of customer deposits from representative office in Moscow and initiated EUR 1.592bn in 2017 to EUR 1.190bn the closure of the Bahamas operations. in 2018, this was mainly caused by the Private Banking staff was also reinforced to Group-initiated derisking programme. On pursue the development of the activities on the asset side, the loan book decreased core European and UK markets. from EUR 523m in 2017 to EUR 457m Following the merger with Banque Havilland in 2018 following the new risk appetite and Institutional Services S.A. (Previously the non-renewal of some loans. Cash at the Banco Popolare (Luxembourg) S.A.) in Central Bank decreased from EUR 328m October 2017 and the integration of in 2017 to EUR 211m in 2018, which is a result institutional operations on the Group’s IT predominantly of institutional clients whose 2018 platform, synergies across business lines deposits have to be invested in the highest have been successfully implemented, allowing quality of assets. -
List of Supervised Entities
List of supervised entities Cut-off date for significance decisions: 1 April 2017# Number of significant supervised entities: 124 This list displays the significant (part A) and less significant credit institutions (part B) which are supervised entities. The list is compiled on the basis of significance decisions adopted and notified by the ECB up to the cut-off date. If the authorisation of a credit institution is withdrawn by the ECB after the cut-off date it will be marked by (#) in this list. While it is regularly reviewed whether an authorisation of a listed bank is withdrawn, it should be noted that there might be a time gap between the withdrawal of the authorisation and the time when the institution is marked with (#). Furthermore, it should be noted that other reasons for the ending of the authorisation as credit institution than the withdrawal of the authorisation will only be reflected in the list after the next cut-off date A. List of significant supervised entities Belgium 1 Investeringsmaatschappij Argenta nv Size (total assets EUR 30 - 50 bn) Argenta Bank- en Verzekeringsgroep nv Belgium Argenta Spaarbank NV Belgium 2 AXA Bank Europe SA Size (total assets EUR 30-50 bn) AXA Bank Europe SCF France 3 Banque Degroof Petercam SA Significant cross-border assets Banque Degroof Petercam France S.A. France Banque Degroof Petercam Luxembourg S.A. Luxembourg Bank Degroof Petercam Spain, S.A. Spain 4 Belfius Banque S.A. Size (total assets EUR 150-300 bn) 5 Dexia NV Size (total assets EUR 150-300 bn) Dexia Crédit Local France Dexia CLF Banque France Dexia Kommunalbank Deutschland AG Germany Dexia Crediop S.p.A. -
Annual Report 2018
DIGITAL BANKING & FINTECH MOVE FORWARD AND INNOVATE EMPLOYMENT SKILLED AND MULTICULTURAL WORKFORCE BANKS STRONG, INTERNATIONAL AND DIVERSIFIED ANNUAL REPORT 2018 PRIVATE BANKING TAILOR-MADE SOLUTIONS FOR INTERNATIONAL CLIENTS RETAIL BANKING WE FINANCE THE ECONOMY Association des Banques et Banquiers, Luxembourg The Luxembourg Bankers’ Association Luxemburger Bankenvereinigung Member of ANNUAL REPORT 2018 - TABLE OF CONTENTS P-1 TABLE OF CONTENTS FOREWORD BY OUR CHAIRMAN 2 FOREWORD BY OUR CEO 4 KEY FIGURES 6 ABBL CLUSTERS 16 Private Banking 16 Retail Banking 18 Corporate Finance, Capital Markets and Cash Management 20 Digital Banking and FinTech Innovation 22 Depositary Banking 25 Market Infrastructures 26 ABBL/ALFI EU REPRESENTATIVE OFFICE 27 Preparing for Brexit and actively closing the legislative cycle 27 TECHNICAL & REGULATORY MATTERS 28 Financial Markets 28 Banking Supervision 30 Legal & Compliance 33 Taxation 37 PSD2 38 Instant payments 39 Trust and Cybersecurity 39 ABBL PROJECTS 40 Employers' Affairs 40 Collective bargaining agreement for bank employees 2018-2020 41 ABBL communication 42 Financial education 42 ABBL publications 44 Corporate social responsibility (CSR) 45 LATEST DEVELOPMENTS IN BANKING 47 AND FINANCIAL LAW GLOSSARY 52 ANNUAL WHO REPORT WE ARE P-2 ANNUAL REPORT 2018 - FOREWORDS For many years Luxembourg has Guy Hoffmann been an attractive and successful CHAIRMAN country with the best credit ratings. Its international banking centre is part of a well-diversified financial ecosystem, with a long-standing expertise in many fields such as corporate, depository and private banking, fintech and other financial services. Our banking and financial community is globally recognised for its expertise in international finance. ANNUAL WHO REPORT WE ARE ANNUAL REPORT 2018 - FOREWORDS P-3 FOREWORD BY OUR CHAIRMAN Many reasons are behind this success. -
Consolidated Annual Report 2020 Banque Havilland S.A
CONSOLIDATED ANNUAL REPORT 2020 BANQUE HAVILLAND S.A. Banque Havilland (the “Bank”) was established by an entrepreneurial British family with a successful track record across many different business sectors. The Bank was founded in 2009 in Luxembourg where it has its head office. The Bank has been built on strong financial foundations following prudent principles. Private ownership provides the Bank and its client stability and consistency allowing it to take a long- term approach to the management of client wealth and generational client relationships. We enable our clients and their family’s wealth to safely thrive, helping them to fulfil their goals and realise their ambitions for themselves and for the next generations. Since inception, the Bank has grown from its original business in Luxembourg, both organically and through acquisitions (hereafter the “Group”). The Group now also encompasses London as a branch of Luxembourg; Monaco, Switzerland (with its branch in Zurich) and Liechtenstein as subsidiaries; and Dubai as a representative office. LIST OF CONTENTS DNA & Values 5 Group Governance 7 - 8 Consolidated Management Report 9 - 14 Audit Report 15 - 20 Consolidated balance sheet 22 - 23 Consolidated off balance sheet 24 Consolidated profit and loss account 25 - 26 Notes to the consolidated accounts 28 - 61 BH CONSOLIDATED ANNUAL REPORT 2020 4 BH CONSOLIDATED ANNUAL REPORT 2020 5 DNA & VALUES Our values underpin the guiding Our values are the DNA of our principles for what matters most to us organisation and support our in our interaction with our customers, sustainability vision. our staff and our stakeholders. EMPOWERMENT FAIRNESS We give employees autonomy to We strive to be fair in flexand adapt to client needs within everything we do. -
Banque Havilland Compass Fourth Quarter 2019 Contents
Banque Havilland Compass Fourth Quarter 2019 Contents Market Environment 3 Equities 6 Bonds 8 Commodities and Currencies 10 Disclaimer 12 Market Environment The overarching theme that investors have been is further complicated by the record low yields on tackling in 2019 has been how to weigh up the slow offer in the bond market – an asset class that would grinding decline in global growth and ever-present ordinarily be the go-to allocation at an advanced geopolitical risk that threatens asset prices, with stage of a business cycle when the prospects for the continuing premise of central bank stimulus growth are clearly deteriorating. Indeed, the case and interest rate cuts that is supporting them. for investing in bonds as standalone assets, many This theme has been taken to new extremes in of which are negatively yielding, is a difficult one to recent weeks, as on the one hand trouble flared in make - though they still have a valuable role within the Middle East in the form of the drone attack on the context of a diversified portfolio alongside the Saudi Arabian oil fields at a time when the US equities and more alternative assets. The recent and China trade talks are deteriorating (again), the oil shock which saw the Brent benchmark soar Brexit ‘deadline’ of 31st October approaches with by as much as 20% on the day before falling back, little in the way of a predictable outcome and civil is significant for reasons beyond the simple cost unrest is unsettling the key trading and financial of crude that affects so many people, companies hub of Hong Kong.