Finance
Luxembourg Bank With Ties to Prince Andrew Starts to Wind Down
- ECB told Banque Havilland it will revoke Luxembourg license
- Bank not accepting new money, in talks to sell Monaco business
This article is for subscribers only.
Banque Havilland SA, a private bank owned by the family of close friends of the disgraced British royal Prince Andrew, is beginning to wind down after the European Central Bank told the firm it would revoke one if its key licenses.
Banque Havilland is no longer accepting new money and executives have entered exclusive negotiations with a rival to acquire its business in Monaco, according to people familiar with the matter.