Luxembourg-based private bank Banque Havilland has acquired a 100% stake in Pasche Bank & Trust in Bahamas from Banque Pasche Geneva.

The acquisition will further expand Banque Havilland’s service offering for UHNW clients, reported

In addition to boosting the Banque Havilland’s geographic presence the acquisition will also expand the bank’s access to the strategic growth markets of Latin America and the Middle East.

The acquisition will result in a new subsidiary, which will be renamed as Banque Havilland (Bahamas) Ltd and based in its current offices in Nassau, Bahamas.

Jean-François Willems, CEO of Banque Havilland, said: "Over the last 12 months our Group has been developing an international network of locations from which we can best support the needs of our UHNW client base. They are global citizens with complex investment and wealth management requirements who need a financial partner that can support them on an international basis."