On July 29, 2024, the Financial Market Authority of Liechtenstein (FMA) announced the revocation of Banque Havilland (Liechtenstein) AG’s banking license. The decision for voluntary liquidation, made at an extraordinary general meeting on July 26, surprised clients and the financial community. Many market players had expected the bank, managing assets worth CHF 1.6 billion, to be sold rather than liquidated, given its profitability and potential.
Ties to Parent Company’s Troubles
The liquidation of the subsidiary of Banque Havilland S.A. in Luxembourg raises questions, considering the recent difficulties faced by the parent bank. Reports had surfaced about potential liquidity issues and even the threat of license revocation. Banque Havilland, owned by the Rowland family, known for their ties to the British Conservative Party, has been embroiled in several scandals, including allegations of money laundering linked to the Qatari sovereign wealth fund and Russian oligarchs.
Consequences for Clients and the Financial Market
The FMA has assured that it will oversee the liquidation process and protect the interests of the bank’s clients, including those of the Swiss branch. However, given the complexity of the situation, clients may face challenges in recovering their assets.
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The liquidation of Banque Havilland (Liechtenstein) AG also raises concerns about the future of Banque Havilland S.A. and its ability to overcome its current difficulties. This event could put additional pressure on the parent company and complicate its financial situation.
Lessons for the Financial Sector
This situation highlights the importance of strict regulation and supervision of banking activities, as well as the need for transparency and accountability in financial institutions. It also serves as a reminder that even banks with a long history and reputation can face serious challenges in a changing geopolitical landscape and tightening regulations. The unexpected decision to liquidate Banque Havilland (Liechtenstein) AG, despite its relative financial stability, underscores the unpredictability of the market and the risks associated with reputational issues.
Protecting Your Assets with BMA Business Solutions. Solution for Havilland clients
At BMA Business Solutions, we understand the concerns and challenges faced by Banque Havilland clients during this uncertain time. We are committed to providing expert guidance and support to help you navigate this situation and protect your financial interests.
Our team of experienced professionals can assist you in opening a new bank account at a Swiss state-controlled or investment-grade bank, ensuring the highest level of safety and security for your assets. We will work closely with you to understand your specific needs and requirements, and recommend the most suitable banking solutions tailored to your individual circumstances.
With our in-depth knowledge of the Swiss banking landscape and our extensive network of contacts, we can help you seamlessly transition your assets to a new institution, minimizing any disruptions to your financial affairs. We also offer comprehensive financial advisory services to help you manage and grow your wealth in the long term.
If you are a Banque Havilland client seeking a reliable and secure banking partner, contact BMA Business Solutions today for a free consultation.
