News

RBS International sees strong growth in depositary services

Since the start of March 2020 RBS International Depositary Services has made a number of appointments and promotions to its local team in Luxembourg, as the Bank enters a phase of considerable growth in its depositary operations in the alternative funds industry despite the pressure put on the market due to the global pandemic.

The team has expanded by over 70% since February 2020 to cater to the growing client base within RBS International Depositary Services which has seen assets under management grow 13% and year on year new business reach 150% so far in 2021.

The roles, which span junior to leadership level, are focussed on the core areas of the business in the Bank’s Luxembourg operation - fund governance, due diligence, business development and business risk, and come at a time when the funds industry as a whole has had to adapt to unprecedented change as a result of the Covid-19 pandemic.

Promoted colleagues include Damian Kubera, Gabriela Ungur and Carmen Vigo Marco, who moves into a Team Leader role. The following new colleagues joined the business bringing the total number of employees in Luxembourg to 24: Arthur Mvele Mfou’ou, Christian Mueller, Daria Iudina, Klaudia Juszczyk, Marco Grauso, Tomasz Sumera, Wen Zou, Monika Chojnacka, Robert Jarvis and Kinga Kaminska.

Spencer Carne, Head of Depositary Services at RBS International in Luxembourg, commented: “We are seeing strong demand from customers and subsequently have adopted agile working practices as well as investing heavily in technology and the local team to ensure we can continue to deliver the high level of service our customers have come to expect.

As an independent depositary we strive to deliver best in class governance for our customers and this can only be achieved through having talented, experienced people within the business.”

For more information contact

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Spencer Carne

Head of Depositary Services, Luxembourg

About RBS International Institutional Banking

We specialise in helping institutional clients look after their money and manage risk. This includes transactional banking, fund financing, depositary services, and liquidity and risk management. We’re based in Jersey, Guernsey, London, Luxembourg, Gibraltar and the Isle of Man so our clients get personal, tailored support from a local expert. And our multi-currency online banking platform, eQ, lets them move and manage money the same way they do their personal banking.

Our clients include alternative investment fund managers, asset managers, fund administrators and corporate service providers. With our culture of restless innovation, we work to make banking easy. We’re focused on delivering all the services our clients need, where and when they need them.

About NatWest Trustee and Depositary Services

NatWest Trustee and Depositary Services provides independent trustee and depositary services in the UK and Luxembourg, operating in both the traditional (UCITS) and alternative funds markets. Established over 80 years ago, with £360billion in assets under trusteeship, we have the capacity, knowledge and experience to support a full range of fund types, sizes and levels of complexity.