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Waystone\u2019s acquisition of BIL Manage Invest, a highly respected Luxembourg-based Management Company (ManCo) within the BIL Group, will increase Waystone\u2019s AUM in Luxembourg by approximately 15% and significantly enhance its market position and capabilities across Continental Europe. This acquisition will also support Waystone\u2019s long-term strategic objective of becoming the leading provider of third-party ManCo, alternative administration, and corporate services in Luxembourg, building on their existing rankings as the fastest growing third-party ManCo in Luxembourg and the largest third-party ManCo in Ireland and Authorised Corporate Director in the UK by AUM.<\u002fp>\r\n\r\n

BIL Manage Invest has built a strong reputation for its expertise and client-centric approach in the fund industry. As a well-established ManCo in Luxembourg, it is highly regarded in Continental Europe and will bring to Waystone a wealth of expertise and a long-standing client base.<\u002fp>\r\n\r\n

As part of this acquisition, Waystone will be welcoming 26 new colleagues to its Luxembourg team.<\u002fp>\r\n\r\n

Sanjiv Sawhney, Group CEO at Waystone:<\u002fb> \u201cThis acquisition represents a significant step forward in Waystone\u2019s growth journey. We put clients at the heart of everything we do and by welcoming BIL Manage Invest into Waystone, we will enhance our ability to serve our clients by leveraging our combined expertise, resources and networks. This integration strengthens our presence in Luxembourg, creates exciting opportunities for our people, and further differentiates us as a leading provider of ManCo services in the region. Importantly, it enables us to deliver even greater value to our global client base by offering a broader range of capabilities worldwide.<\u002fi>\u201d<\u002fp>\r\n\r\n

Denis Harty, Country Head for Continental Europe at Waystone:<\u002fb> \u201cLuxembourg continues to play a pivotal role in Waystone\u2019s growth and the acquisition of BIL Manage Invest represents a major milestone in our strategy for Continental Europe. This move builds on the strong foundation we\u2019ve established here and will accelerate our ability to support clients in a market that is both globally significant and rapidly evolving. BIL Manage Invest brings deep local insight and proven operational strength, which will enhance our service offering and expand opportunities for both our clients and our teams. We\u2019re excited to welcome the BIL Manage Invest team to Waystone and to further strengthen our presence in one of the world\u2019s leading fund centres.<\u002fi>\u201d<\u002fp>\r\n\r\n

Alain Bastin , CEO at BIL Manage Invest, comments:<\u002fb> \u201cThis marks a new chapter for BIL Manage Invest. By joining Waystone, a leading provider of fund services, we will be ideally positioned to support our clients with enhanced capabilities and global reach. We are confident that this will create long-term value for our clients, employees, and partners.\u201d<\u002fp>\r\n\r\n

About Waystone<\u002fb><\u002fp>\r\n\r\n

Waystone is a leading provider of institutional governance, administration, risk and compliance services to the asset management industry. Partnering with institutional investors, investment funds and asset managers, Waystone builds, supports and protects investment structures and strategies worldwide. With over 20 years\u2019 experience and a comprehensive range of specialist services to its name, Waystone provides its clients with the guidance and tools that allows them to focus on managing their investment goals with confidence.<\u002fp>","BILInternetPublicationDate":"\/Date(1746622800000)\/","FileExtension":"aspx","SecondaryFileExtension":"aspx","OriginalPath":"https:\u002f\u002fwww.bil.com\u002fen\u002fbil-group\u002fpressroom\u002fnews\u002fPages\u002fWaystone-to-acquire-leading-Luxembourg-ManCo-BIL-Manage-Invest.aspx","PartitionId":"\/Guid(0c37852b-34d0-418e-91c6-2ac25af4be5b)\/","UrlZone":2,"Culture":"en-US","ResultTypeId":0,"RenderTemplateId":"~sitecollection\u002f_catalogs\u002fmasterpage\u002fDisplay Templates\u002fSearch\u002fItem_Default.js","DocId":120956,"QueryRuleId":"\/Guid(00000000-0000-0000-0000-000000000000)\/" },{ "Rank":0,"Path":"https:\u002f\u002fwww.bil.com\u002fen\u002fbil-group\u002fpressroom\u002fnews\u002fPages\u002fBIL-delivers-resilient-2024-performance-and-reaffirms-its-long-term-vision-as-a-universal-bank.aspx","Title":"BIL delivers resilient 2024 performance and reaffirms its long-term vision as a universal bank","BILInternetContent":"

Key figures for 2024<\u002fb><\u002fp>\r\n

\r\n
Assets under Management (AuM) rise to EUR 46.8 billion<\u002fli>\r\n
Customer deposits reach EUR 18.8 billion<\u002fli>\r\n
Customer loans exceed EUR 16.2 billion<\u002fli>\r\n
Total revenues reach EUR 719 million<\u002fli>\r\n
Expenses decline to EUR 499 million<\u002fli>\r\n
Net income: EUR 170 million<\u002fli>\r\n
CET1 ratio rises to 14.25% (after profit allocation)<\u002fli>\r\n
Liquidity coverage ratio reaches 200%, well above regulatory threshold<\u002fli>\r\n<\u002ful>\r\n
Unpredictable macroeconomic trends in 2024<\u002fb><\u002fp>\r\n
In 2024, economic conditions remained volatile. Geopolitical tensions, fluctuating energy prices contributed to an unpredictable global environment. The European Central Bank (ECB) initiated a gradual decrease of its interest rate in June 2024, after a sudden hike from 0% in July 2022 to an all-time high of 4% in September 2023. Although easing had started, the effect of high rates continued to impact major sectors across Europe and Luxembourg throughout 2024, notably real estate and construction.<\u002fp>\r\n
At the same time, AI (Artificial Intelligence) gained momentum as a transformative force, adopted by governments and companies to boost productivity and navigate fast-changing technological landscapes. BIL embraces this new technology to adapt and transform its services. Berry, the Bank\u2019s virtual assistant is available to clients on its online banking platform BILnet since May 2024. Powered by AI, Berry can help clients with questions related to credit card status and credit card payments. Its abilities will be progressively enhanced, contributing to the development of BIL\u2019s digital services offering.<\u002fp>\r\n
A resilient performance, 2024 net income of EUR 170 million<\u002fb><\u002fp>\r\n
BIL\u2019s performance in 2024 reflected its resilience in a challenging environment. The global instability and the prevailing interest environment impacted households and businesses. Clients showed increased caution, especially when it came to new investments and borrowing decisions.<\u002fp>\r\n
Total loan volumes declined slightly to EUR 16.2 billion (from EUR 16.4 billion in 2023), while customer deposits increased to EUR 18.8 billion supported by attractive interest rates and growing demand for more remunerative saving products. Assets under management rose from EUR 43.8 billion in 2023 to EUR 46.8 billion, driven by both new inflows and positive market performance, a clear sign of client trust.<\u002fp>\r\n
BIL's total revenues reached EUR 719 million, while expenses declined to EUR 499 million. Thanks to its disciplined management of costs, risks and capital, the Bank is financially robust and well capitalized with a Common Equity Tier 1 ratio of 14.25% (after profit allocation) and a Liquidity Coverage ratio of 200%.<\u002fp>\r\n
Building Tomorrow Together<\u002fb><\u002fp>\r\n
With its new 2025-2030 strategic plan, BIL reaffirms its commitment to being a strong, reliable partner for its clients and the broader financial system, rooted in Luxembourg.<\u002fp>\r\n
Looking ahead, BIL aims to:<\u002fb><\u002fp>\r\n
\r\n
Strengthen its full range of services across Wealth Management, Corporate, Institutional and Retail Banking: <\u002fb>\r\n
BIL will focus even more on its core businesses and leverage its expertise on its domestic market, Luxembourg, and the greater region. It will also grow its international wealth management activities on selected markets, starting with the opening of a branch in France in 2025.<\u002fli>\r\n
Enhance customer experience:<\u002fb>\r\n
The Bank will bring its operational efficiency to the next level by leveraging the full potential of its new core banking system and the integration of the latest technologies such as Artificial Intelligence. It will develop its digital offering to enhance customer experience and response time.<\u002fli>\r\n
Support Luxembourg's economic development:<\u002fb>\r\n
With its healthy balance sheet and careful management of risks, the Bank will have strong capital and liquidity levels to continue financing the development of Luxembourg's economy.<\u002fli>\r\n<\u002ful>\r\n
Jeffrey Dentzer, CEO of BIL commented:<\u002fb>\r\n
\u201cBIL has been by the side of individuals, families, and entrepreneurs for generations, not just as a bank, but as a partner in their lives and ambitions. Our 2024 results confirm the strength of the strategy we put in place: focused, resilient, anchored in the needs of our clients and anticipating the future. We will continue to work relentlessly to support them, to stay the bank they can rely on, today and tomorrow<\u002fi>\u201d.<\u002fp>\r\n
\r\n
\r\n \r\n $\"\"$ <\u002fspan>\r\n Annual Report 2024<\u002fspan>\r\n <\u002fa>\r\n <\u002fli> \r\n<\u002ful>\r\n","BILInternetPublicationDate":"\/Date(1745496000000)\/","FileExtension":"aspx","SecondaryFileExtension":"aspx","OriginalPath":"https:\u002f\u002fwww.bil.com\u002fen\u002fbil-group\u002fpressroom\u002fnews\u002fPages\u002fBIL-delivers-resilient-2024-performance-and-reaffirms-its-long-term-vision-as-a-universal-bank.aspx","PartitionId":"\/Guid(0c37852b-34d0-418e-91c6-2ac25af4be5b)\/","UrlZone":2,"Culture":"en-US","ResultTypeId":0,"RenderTemplateId":"~sitecollection\u002f_catalogs\u002fmasterpage\u002fDisplay Templates\u002fSearch\u002fItem_Default.js","DocId":121497,"QueryRuleId":"\/Guid(00000000-0000-0000-0000-000000000000)\/" },{ "Rank":0,"Path":"https:\u002f\u002fwww.bil.com\u002fen\u002fbil-group\u002fpressroom\u002fnews\u002fPages\u002fGovernance-changes-at-BIL.aspx","Title":"Governance changes at BIL: Marcel Leyers appointed Chair of the Board and Jeffrey Dentzer CEO","BILInternetContent":"
Marcel Leyers, CEO of BIL since May 2019, retired from executive management and is appointed Chair of the Board of Directors. He takes over from Jing Li, Legend Holdings, Chair ad interim since March 2023 who becomes Vice-Chair of the Board of Directors.
\r\nMarcel Leyers joined BIL in 1983. After a few years as a relationship manager in the retail banking activity, Leyers developed a deep interest for businesses, entrepreneurs and corporations. He became the Head of Corporate and Institutional Banking (CIB) in 2011, joined the Executive committee in 2013, to become the CEO of the Bank in 2019. \r\n\r\n<\u002fp>\r\n\r\n
To replace Marcel Leyers at the helm of the Bank, Jeffrey Dentzer, Deputy CEO since 1 January 2024, is appointed CEO. \r\nBefore this role, Dentzer served as Chief of Luxembourg Market & CIB and Member of the Management Board of BIL since January 2020. At this position he was leading the Bank\u2019s three main businesses on its domestic market: Retail Banking, Wealth Management and Corporate and Institutional Banking.\r\n\r\n<\u002fp>\r\n\r\n
Since 1 January 2024, Marcel Leyers and Jeffrey Dentzer worked hand in hand to ensure a smooth transition at the head of the Bank. As its strategic plan Energize Create Together 2025 comes to a close, the Bank is working on a new strategic plan centered on its clients and its commitment to bringing a continued support to the economy. <\u002fp>\r\n\r\n
Jing Li, Vice Chair of the Board of Directors representing Legend Holdings, commented:<\u002fstrong>
\r\n\u201cAs CEO of BIL, Marcel Leyers guided the Bank successfully through the pandemic and a major IT transformation project. I would like to thank him for the tremendous work done. As he is stepping down as CEO, Jeffrey Dentzer is the perfect person to lead the Bank in the new chapter of its sustainable growth story, together with the Executive Committee and all BIL staff. The expertise, experience and insights that both bring to the Bank are invaluable, and I wish them success.\u201d\r\n<\u002fp>\r\n
Marcel Leyers, Chair of the Board of Directors and former CEO commented:<\u002fstrong>
\r\n\u201cThis change in leadership has been carefully prepared. With Jeffrey Dentzer, I am confident we have the right person to lead BIL towards its next success chapters and to overcome the many challenges that no doubt will arise. He has demonstrated a deep knowledge of all our businesses and his ability to steer the teams in the right direction.\u201d\r\n\r\n\r\n\r\n<\u002fp>\r\n
Jeffrey Dentzer, CEO of BIL commented:<\u002fstrong>
\r\n\u201cI would like to thank the Board of Directors, the Executive Committee and all staff of the Bank for their trust. I look forward to working together to bring our clients excellent services and products that will support them in their projects and contribute to the development of Luxembourg\u2019s economy.\u201d \r\n\r\n<\u002fp>","BILInternetPublicationDate":"\/Date(1716357600000)\/","FileExtension":"aspx","SecondaryFileExtension":"aspx","OriginalPath":"https:\u002f\u002fwww.bil.com\u002fen\u002fbil-group\u002fpressroom\u002fnews\u002fPages\u002fGovernance-changes-at-BIL.aspx","PartitionId":"\/Guid(0c37852b-34d0-418e-91c6-2ac25af4be5b)\/","UrlZone":2,"Culture":"en-US","ResultTypeId":0,"RenderTemplateId":"~sitecollection\u002f_catalogs\u002fmasterpage\u002fDisplay Templates\u002fSearch\u002fItem_Default.js","DocId":129842,"QueryRuleId":"\/Guid(00000000-0000-0000-0000-000000000000)\/" } ],"ResultTitle":null,"ResultTitleUrl":null,"RowCount":3,"TableType":"RelevantResults","TotalRows":129,"TotalRowsIncludingDuplicates":129 } ] }

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