Since the formation of Nordea in 2000, Luxembourg has been the centre of excellence when it comes to distributing Nordea funds via intermediaries such as banks, insurance companies, asset managers, fund of funds, family offices, retail bank advisory teams and IFA´s internationally. Today from its local hub, Nordea markets its products in 18 countries, and has established a physical presence in Austria, France, Germany, Italy, Switzerland, and most recently Singapore.

A key step in the company’s development has been the recent partnership with a major network of some 600 Italian savings banks to distribute investment funds under the new joint name NorVega. Through this new initiative Luxembourg domiciled Nordea products will be offered to Italian retail clients from Tuscany to Puglia, enlarging the asset manager’s footprint considerably.

“The establishment of this partnership was a major project, with our Luxembourg hub taking the lead. The majority of the new NorVega support functions are based in Luxembourg including the Client Relationship Management team, Product Support team, as well as the Marketing and Online teams” explains Christophe Girondel, Global Head of Fund Distribution. “As our business expands we will continue to add staff to the team here at our Luxembourg headquarters” he adds.