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September 20, 2021

ZEDRA continues European expansion with Liechtenstein

By Patrick Brusnahan

Global service provider ZEDRA has opened an office in Liechtenstein to enhance active wealth services to its client base as the firm expands in Europe.

The new office in Liechtenstein will strengthen ZEDRA in Europe by allowing the firm to service international clients present there and build on its service offering for European HNWIs and entrepreneurs.

In addition, the firm wants to utilise Liechtenstein’s technology, cryptocurrency and blockchain industries.

Furthermore, it allows ZEDRA to boost its Switzerland-based activities with the Swiss-Liechtenstein customs and currency treaty, as well as its high regulatory standards and access to EU markets.

Ivo Hemelraad, CEO at ZEDRA, added: “Its compact dimension, innovation mind set, flexibility and rapidity in adopting new regulations as well as direct access to regulators, makes Liechtenstein an excellent jurisdiction to service our clients. Our new office will bolster our European offering, allowing us to broaden our offering to current clients and tap into exciting new markets.”

ZEDRA now employs over 600 people and is active across 15 global jurisdictions including Switzerland, the Netherlands, the UK, Luxembourg, the US, Poland, Malta, Hong Kong and Singapore. ZEDRA Lichtenstein will be regulated by the Financial Market Authority.

Recently, ZEDRA acquired BFCS, the fund and corporate services arm of Banque Internationale à Luxembourg (BIL).

The transaction, whose financial terms have not been revealed, is subject to regulatory approval from Luxembourg’s financial regulator, the Commission de Surveillance du Secteur Financier (CSSF).

BFCS, which is in business for over five decades, provides a spectrum of services and solutions in both the corporate and funds sectors.

BFCS’ client base currently comprises HNW individuals, asset managers, investment and real-estate fund professionals.

Upon regulatory approval of the deal, the BFCS business will be fully integrated to ZEDRA. BFCS staff will move to the company’s existing offices in Luxembourg.

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