Banque Havilland
{{Short description|Luxembourg private bank}}
{{Infobox company
| name = Blastline
| logo = 200px
| type = Private Company
| foundation = {{start date |2009 |7 |10}}{{cite web|title=Ouverture officielle Banque Havilland en présence de S. A. R le Duc d'York K. G. | trans-title = Official Opening of Banque Havilland in the presence of HRH the Duke of York, KG | url= https://paperjam.lu/article/communique-ouverture-officielle-banque-havilland-en-presence-de-sar-le-duc-dyork-kg |website=Paperjam.lu|accessdate=15 February 2017}}
| location_country = Luxembourg
| num_locations = 6
| key_people = David Rowland (Owner)
Marc Arand (Group CEO)
| industry = Financial services
| services = Private banking
Asset management
Wealth management
Investment fund
Trading
| num_employees = 200 (Luxembourg)
| website = {{url |https://www.banquehavilland.com/}}
}}
Banque Havilland S.A. is a private bank headquartered in Luxembourg. It is owned by the Rowland family and provides services in private banking, wealth and asset management, fund services to private clients and institutions. Banque Havilland has five offices; these are located in Luxembourg, Liechtenstein, Monaco, the United Arab Emirates and Switzerland.{{cite web|url=http://www.banquehavilland.com/en/contact|title=Contact Us|website=banquehavilland.com|archive-url=https://web.archive.org/web/20170511044203/http://www.banquehavilland.com/en/contact|archive-date=May 11, 2017|url-status=dead|accessdate=January 3, 2019}}
On 9 August 2024, the Luxembourg District Court placed the bank in administration.
History
Banque Havilland obtained a banking licence in Luxembourg in 2009.{{cite web|title=Le Président du Conseil d'Administration et la Direction sont heureux d'annoncer l'ouverture de "Banque Havilland S. A." prévue ce lundi 13 juillet 2009|url=http://paperjam.lu/communique/le-president-du-conseil-dadministration-et-la-direction-sont-heureux-dannoncer-louverture|website=Paperjam.lu|accessdate=15 February 2017|archive-url=https://web.archive.org/web/20180730141805/http://paperjam.lu/communique/le-president-du-conseil-dadministration-et-la-direction-sont-heureux-dannoncer-louverture|archive-date=2018-07-30|url-status=dead}} David Rowland and his son Jonathan achieved this by obtaining the good bank of the failed Kaupthing Bank Luxembourg via their investment company Blackfish Capital. The bad bank was renamed Pillar Securitisation, for which Havilland acted as administrator.{{cite news
| last1 = Ward
| first1 = Andrew
| last2 = Pignal
| first2 = Stanley
| title = Luxembourg raids over Kaupthing failure
| url = https://www.ft.com/content/683b2926-17fb-11df-91d2-00144feab49a
| work = Financial Times
| date = 12 February 2010
| access-date = 10 November 2017
}} It was named after Rowland's Havilland Hall mansion in Guernsey.
It opened its first overseas entity in Monaco by acquiring Dexia Private Bank S.A.M. from Dexia Banque Internationale à Luxembourg in 2012.{{cite web|title=Banque Havilland acquires Dexia Private Bank Monaco|url=http://www.investmenteurope.net/regions/benelux/banque-havilland-acquires-dexia-private-bank-monaco/|website=Investmenteurope.net|accessdate=15 February 2017}} A year later, in 2013, it launched its London branch{{cite news|title=Havilland ouvre un bureau à Londres | trans-title = Havilland opens an office in London |url=https://paperjam.lu/article/news-havilland-ouvre-un-bureau-londres|website=Paperjam.lu|accessdate=15 February 2017 | language = French}} and acquired a majority stake in Banque Pasche (Liechtenstein) AG and 100% of shares in Pasche Bank & Trust Limited forming two new subsidiaries Banque Havilland (Liechtenstein) AG.{{cite news|title=Acquisition of Banque Pasche private banking business in Liechtenstein|url= https://paperjam.lu/article/communique-banque-havilland-acquires-banque-pasche-private-banking-business-liechtenstein |website=Paperjam.lu|accessdate=15 February 2017}}
{{cite news|title=Banque Havilland expands its international network to the Bahamas|url=http://paperjam.lu/communique/banque-havilland-expands-its-international-network-bahamas|website=Paperjam.lu|accessdate=15 February 2017|archive-url=https://web.archive.org/web/20180730113656/http://paperjam.lu/communique/banque-havilland-expands-its-international-network-bahamas|archive-date=30 July 2018|url-status=dead}}
In 2016, Banque Havilland acquired Banque Pasche S.A. in Switzerland allowing it to start operating in Switzerland, in Zurich.{{cite web|title=Banque Havilland S. A. acquires Swiss bank, Banque Pasche S. A.|url=http://www.abbl.lu/fr/blog/article/2016/05/banque-havilland-s-a-acquires-swiss-bank-banque-pasche-s-a|website=abbl.lu|accessdate=15 February 2017|archive-url=https://web.archive.org/web/20170216061921/http://www.abbl.lu/fr/blog/article/2016/05/banque-havilland-s-a-acquires-swiss-bank-banque-pasche-s-a|archive-date=2017-02-16|url-status=dead}} Moreover, through its acquisition of Banco Popolare Luxembourg S.A. from Banco Popolare, the bank extended its services to institutional clients.{{cite web|title=Banque Havilland S. A. acquires Banco Popolare Luxembourg S. A.|url=http://www.abbl.lu/fr/blog/article/2016/03/banque-havilland-s-a-acquires-banco-popolare-luxembourg-s-a|website=abbl.lu|access-date=2017-02-15|archive-url=https://web.archive.org/web/20170216061924/http://www.abbl.lu/fr/blog/article/2016/03/banque-havilland-s-a-acquires-banco-popolare-luxembourg-s-a|archive-date=2017-02-16|url-status=dead}}
In 2018, the bank was fined fined €4 million for breaches of money-laundering regulations. In 2023, the bank’s British subsidiary was shut down by regulators. In 2023, Banque Havilland announced the sale of its institutional banking activities to Banco Inversis, a subsidiary of Spanish investment bank Banca March.{{cite web |title=“I don’t think we are going against the grain”: Banque Havilland CEO |url=https://delano.lu/article/i-don-t-think-we-are-going-aga |publisher=Delano Finance |access-date=20 May 2024}}
In early August 2024, the European Central Bank withdrew Banque Havilland’s operating licence, stopping it trading in most of Europe. On 9 August 2024, the Luxembourg District Court placed the bank in administration.{{cite news |url=https://www.luxtimes.lu/businessandfinance/banque-havilland-placed-into-administration-by-luxembourg-court/17501529.html |title=Banque Havilland placed into administration by Luxembourg court |last=Monaghan |first=John |website=Luxembourg Times |date=9 August 2024 |access-date=13 August 2024}}{{cite news |url=https://www.telegraph.co.uk/business/2024/08/12/how-prince-andrew-favourite-banker-spotty-rowland-unstuck/ |title=How Prince Andrew's favourite banker 'Spotty' Rowland came unstuck |last=Bow |first=Michael |newspaper=The Daily Telegraph |url-access=subscription |date=12 August 2024 |access-date=13 August 2024}}
Controversy
= 2017 Qatar diplomatic crisis =
{{See also|2017 Qatar diplomatic crisis}}
In November 2017, leaked emails purported to show that Yousef Al Otaiba, ambassador of the United Arab Emirates to the United States, had hired Banque Havilland to draw up a plan on how to start a financial war against Qatar.{{cite news
| last1 = Grim
| first1 = Ryan
| last2 = Walsh
| first2 = Ben
| title = Leaked Documents Expose Stunning Plan to Wage Financial War on Qatar — and Steal the World Cup
| url = https://theintercept.com/2017/11/09/uae-qatar-oitaba-rowland-banque-havilland-world-cup/
| work = The Intercept
| date = 9 November 2017
| access-date = 15 November 2017
}} The bank has denied the allegations of overseas currency manipulation.{{Cite news |last=Azhar |first=Saeed |date=2022-02-01 |title=UK watchdog warns Banque Havilland over Qatar bonds' presentation |language=en |work=Reuters |url=https://www.reuters.com/markets/europe/uk-watchdog-warns-banque-havilland-over-qatar-bonds-presentation-2022-02-01/ |access-date=2023-02-01}}
In January 2023, the Financial Conduct Authority issued notices to Banque Havilland, its former London CEO, Edmund Havilland, and two other former employees for their role in the 2017 plan that targeted the financial system of Qatar. The FCA fined Banque Havilland £10 million. David Rowland’s son. Edmund Rowland was also banned and fined £352,000. An analyst with the bank, Vladimir Bolelyy created a presentation with “manipulative trading strategies” that aimed at devaluing the Qatari riyal. The watchdog censored and fined Bolelyy £14,200. A former senior manager at the bank, David Weller also received the FCA notice, which banned and fined him £54,000 for contributing significantly to the document prepared by the bank. A copy of the document, which was disseminated by Edmund Rowland and Bolelyy, was also provided to an official of the Abu Dhabi sovereign wealth fund.{{cite web|url=https://www.fca.org.uk/news/press-releases/fca-publishes-decision-notices-banque-havilland-sa-and-three-former-employees|title=FCA publishes Decision Notices for Banque Havilland SA and three of its former employees|access-date=5 May 2023|website=Financial Conduct Authority}} {{cite web|url=https://www.bloomberg.com/news/articles/2023-05-05/uk-fines-and-bans-havilland-s-edmund-rowland-over-qatari-plot|title=UK Fines and Bans Banque Havilland’s Edmund Rowland Over Qatari Plot|access-date=5 May 2023|website=Bloomberg}}{{cite web|url=https://www.ft.com/content/36805f6a-fd1a-48ea-9a33-5dee7ddb03d3|title=Banque Havilland faces £10mn fine from UK watchdog over Qatar scheme|access-date=5 May 2023|website=The Financial Times}} David Rowland maintained good relationship with the UAE President Mohammed bin Zayed, who was known as “The Boss” at Banque Havilland.{{cite web|url=https://www.bloomberg.com/news/features/2020-12-21/at-banque-havilland-abu-dhabi-s-crown-prince-was-known-as-the-boss|title=At Banque Havilland, Abu Dhabi’s Crown Prince Was Known as ‘The Boss’|access-date=21 December 2020|website=Bloomberg}}
References
{{Reflist}}{{Banks of Luxembourg}}