Bridges connect Minneapolis-based U.S. Bank with new Luxembourg office

November 18, 2020 | GET MORE : General Information


Pictured: Skylines of Luxembourg (left) and Minneapolis (right).

Share Article:

Share on Facebook Share on Twitter Share on LinkedIn

The new office is managed by Global Fund Services Luxembourg Country Leader Didier Delvaux

In U.S. Bank’s new Luxembourg office, two pictures of similar bridges from Minneapolis and Luxembourg City hang side by side. These landmark bridges are more than architectural wonders to Global Fund Services Luxembourg Country Leader Didier Delvaux.

“They signify the bridge between the two countries and the gap that we are filling for our clients. It is almost fate that we opened an office here.” 

Delvaux and his team officially opened the new office in September, providing fund administration and accounting, a private equity platform and depositary and related services. 

“Our talented team brings local alternative investment expertise backed by the strength and stability of the fifth largest bank in the United States. We set our services apart from our competitors’ by providing a high quality of service, a well-developed infrastructure and a delightful customer experience,” Delvaux said. 

“As country manager, it’s my goal to ensure our team is engaged. When your employees are happy, they work harder to increase customer satisfaction and find ways to meet their specific needs. Our team members constantly put themselves in our clients’ shoes and work every day to go the extra mile to make a personalized connection with them.” 

The geographically small country is a well-known financial industry giant, second only to the U.S. as the country of origin for funds, making it an obvious choice for expansion. Also, as the third largest banking center in Europe, Luxembourg has a AAA credit rating, the highest possible, from S&P. 

“For us it’s the perfect time to build a team here. Luxembourg products have been successful because investors are looking for regulated products in a trustworthy environment where they are confident their assets are safe,” Delvaux said. 

“It was clear that opening the office here was a key to our long-term global growth. The market is ready for the types of expansion we’re best at. We’re in the right place, at the right time.”

The team is working toward onboarding a total of 15 new fund services clients by the end of 2021 and has plans to expand further in the future. Delvaux says the sky is the limit in terms of growth for U.S. Bank in Luxembourg, and collaboration across the company is key. 

“U.S. Bank provides a variety of services throughout the U.S. and Europe,” Delvaux said. “By adding the Luxembourg office, we’re helping customers who need our services as well as connecting them to our colleagues within other areas of the bank.”

“We are making a long-term commitment to the Luxembourg market. I’m excited to see all of the wonderful things our team will accomplish as we continue bridging the gap for our clients.” 

To learn more about the services the Luxembourg office provides, read the press release  and visit usbank.com/lu

U.S. Bank Global Fund Services is a wholly owned subsidiary of U.S. Bank, N. A. Custody and lending services are offered by U.S. Bank, N.A.

U.S Bank Global Fund Services (Luxembourg) S.a.r.l. is registered in Luxembourg with RCS number B238278 and Registered Office: Floor 3, K2 Ballade, 4, rue Albert Borschette, L-1246 Luxembourg. U.S. Bank Global Fund Services (Luxembourg) S.a.r.l. is authorised and regulated by the Commission de Surveillance du Secteur Financier.

Elavon Financial Services DAC Luxembourg Branch (trading as U.S. Bank Depositary Services Luxembourg) is registered in Luxembourg with RCS number B244276 and Registered Office: Floor 3, K2 Ballade, 4, rue Albert Borschette, L-1246 Luxembourg, regulated and authorised by the Central Bank of Ireland (CBI) as well as by the Commission de Surveillance du Secteur Financier (CSSF). Details about the extent of our authorisation and regulation by the CBI and the CSSF are available from us on request.

U.S. Bank Global Fund Services (Ireland) Limited is registered in Ireland with the Companies Registration Office Reg. No. 413707 and Registered Office: 24-26 City Quay, Dublin 2, Ireland, D02 NY19. U.S. Bank Global Fund Services (Ireland) Limited is authorised and regulated by the Central Bank of Ireland under the Investment Intermediaries Act, 1995.

U.S. Bank Global Fund Services (Guernsey) Limited is licensed under the Protection of Investors Law (Bailiwick of Guernsey), 1987, as amended by the Guernsey Financial Services Commission to conduct controlled investment business in the Bailiwick of Guernsey.

U.S. Bank does not guarantee products, services or performance of its affiliates and third-party providers. 

U.S. Bank Global Fund Services is a wholly owned subsidiary of U.S. Bank, N. A. Custody and lending services are offered by U.S. Bank, N.A.

U.S Bank Global Fund Services (Luxembourg) S.a.r.l. is registered in Luxembourg with RCS number B238278 and Registered Office: Floor 3, K2 Ballade, 4, rue Albert Borschette, L-1246 Luxembourg. U.S. Bank Global Fund Services (Luxembourg) S.a.r.l. is authorised and regulated by the Commission de Surveillance du Secteur Financier.

Elavon Financial Services DAC Luxembourg Branch (trading as U.S. Bank Depositary Services Luxembourg) is registered in Luxembourg with RCS number B244276 and Registered Office: Floor 3, K2 Ballade, 4, rue Albert Borschette, L-1246 Luxembourg, regulated and authorised by the Central Bank of Ireland (CBI) as well as by the Commission de Surveillance du Secteur Financier (CSSF). Details about the extent of our authorisation and regulation by the CBI and the CSSF are available from us on request.

U.S. Bank Global Fund Services (Ireland) Limited is registered in Ireland with the Companies Registration Office Reg. No. 413707 and Registered Office: 24-26 City Quay, Dublin 2, Ireland, D02 NY19. U.S. Bank Global Fund Services (Ireland) Limited is authorised and regulated by the Central Bank of Ireland under the Investment Intermediaries Act, 1995.

U.S. Bank Global Fund Services (Guernsey) Limited is licensed under the Protection of Investors Law (Bailiwick of Guernsey), 1987, as amended by the Guernsey Financial Services Commission to conduct controlled investment business in the Bailiwick of Guernsey.

U.S. Bank does not guarantee products, services or performance of its affiliates and third-party providers.