Aquin Components, software provider for the asset management and fund industry, is strengthening its presence in Luxembourg. The expansion includes new offices as well as the growth of the local consultant team. As the new Benelux country manager, James King will be responsible for all activities in Belgium, the Netherlands and Luxembourg.
Mr. King began his career with the Bank of New York (Global Custody) before moving to Odyssey Asset Management Systems and Misys International Banking Systems where he expanded his expertise into the Financial Software industry.
Luxembourg offers multiple advantages to investment companies
By branching out into Luxembourg, Aquin Components is pursuing a market that is more investor friendly than the current German market. Several German investment companies see Germany as a weakened location for the investment management industry. Some of the Federal Ministry of Finance's proposed amendments to the German Investment Act (InvG) have even been considered unreasonable by experts. Among others, the mandatory itemization of transaction costs and the choice of a Custodian bank that is independent from the investment company have been cited. In comparison to these new requirements in Germany, Luxembourg offers an easy approval policy and flexible use of financial innovations at low costs. “Aquin has ambitious goals for Benelux in 2007”, explains Aquin Components’ CEO, Götz Bernhardi. “The expansion of our team in Luxembourg will be an important step in our continuing international growth.”
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