RBS agrees to sell RBS (Luxembourg) S.A. to BlackFin Capital Partners
RBS announced that it is selling RBS (Luxembourg) S.A.(“RBSL”), its Luxembourg-domiciled independent management company and funds governance business, to BlackFin Capital Partners, a private equity firm specialised in the financial services sector, for an undisclosed amount.
Laurent Bouyoux, President of BlackFin Capital Partners, commented: “BlackFin is delighted to
become RBSL’s new shareholder alongside its management team. Our common objective is to
capitalise on RBSL’s assets – a highly qualified team, a strong platform and a proven business model – to seize the growth opportunities arising in the asset management industry. BlackFin’s ambition is to position RBSL, for the long term, as the leading European independent player in its market.”
“We are very pleased that BlackFin Capital Partners is buying RBS (Luxembourg) S.A. This is a good outcome for customers and staff, and provides customers with certainty that we will continue to provide a market leading service,” said Revel Wood, Chief Executive Officer of RBSL.
Divesting RBSL is in line with the strategy to make RBS a smaller, more focused bank.
The completion of the deal is subject to approval of the Luxembourg regulator, Commission de
Surveillance du Secteur Financier (“CSSF”), and is expected to complete in the fourth quarter of this year.
PricewaterhouseCoopers Luxembourg and Linklaters LLP are advising RBS. Arendt & Medernach is advising BlackFin Capital Partners.
Posted In
Tagged
Latest news
New research from NatWest and the British Franchise Association (bfa) highlights changes and profitability in the sector.
52 winning organisations have been announced for round two of the 2018 Skills & Opportunities Fund.
Simon McNamara, RBS Chief Administrative Officer and Executive Sponsor of the RBS Multicultural Network, recently hosted an event in discussion with Eric Holder, the first black US Attorney General. They discussed career, ethnicity, diversity and even a little bit of politics. At the event, Eric Holder shared his wisdom and experience with attendees from the RBS Executive committee and RBS Multicultural Network. Simon McNamara blogs about his experience meeting Eric, a BAME role model, and why diversity is so important to RBS.