Banking solutions for Luxembourg’s alternative investment funds (AIF) ecosystem
FundBank (Europe) S.A. commenced operations in early 2025, providing seamless and efficient banking solutions to institutional banking clients in Europe. Headquartered in Luxembourg, FundBank (Europe) S.A. complements the Luxembourg (AIF) ecosystem and acts in cooperation with key stakeholders of the investment funds industry. Fully licensed by the European Central Bank (ECB) and regulated by the Commission de Surveillance du Secteur Financier (CSSF), our authorisation as a full credit institution enables us to serve clients across the European Union (EU); delivering compliant, cross-border banking infrastructure to the AIF industry. We support the full lifecycle of private capital vehicles across Luxembourg, the Netherlands, Ireland, and all EU jurisdictions through EU passporting rights.
FundBank’s clients are provided with fully-regulated bank accounts with real IBANs, along with custody, FX, trade execution, and escrow services, with clients onboarded in as little as 10 business days. Built in Luxembourg, and specifically designed for the AIF ecosystem, we support our clients to meet their objectives, all backed by strong regulatory trust.
Kieran Dowling joins FundBank
In July, we were delighted to welcome Kieran Dowling as Chief Client Service & Business Development Officer at FundBank (Europe) S.A. Kieran plays a pivotal role in ensuring client service excellence, operational leadership, and strategic business development. With over 25 years of experience in the financial services industry, Kieran has a distinguished track record in developing integrated business solutions, leading high-performing teams, and driving strategic client growth across Europe and globally.
FundBank North America strengthens leadership and services
In October, we announced the appointment of Gillian Van Schaick as Interim CEO for FundBank’s North America operation. With more than 30 years of experience in financial services, Gillian brings deep expertise in risk management and regulatory compliance, having held senior leadership positions at HSBC, JPMorgan Chase, and Goldman Sachs. Her guidance and expertise will be invaluable as FundBank continues its growth journey in North America.
FundBank N.A. continues to see an unprecedented level of demand from managers and fund administrators and our teams in New York and Austin have been working with clients to onboard them swiftly and efficiently. We are delighted that client feedback regarding our streamlined systems and digital onboarding process remains extremely positive.
FundBank N.A. provides its clients with:
Solutions for Cayman’s growing institutional investor market
Our Cayman Islands operation continues to go from strength to strength with a significant increase in new clients across all sectors and strategies. Our trust and fiduciary business has grown significantly this year, demonstrating that our expertise and understanding of the market makes us well placed to meet the needs of our institutional investor clients.
We have also seen a surge in FX activity. As global markets have remained volatile, FX activity is increasing, and institutional clients are under pressure to protect value across borders. We are helping our clients to stay ahead with FX solutions that are designed for agility, precision, and performance. Our solutions deliver custom FX strategy and planning, spot trading with deep liquidity access, flexible execution (voice, portal, Bloomberg, mobile, email) and integrated custody and cash management.
Appointment of Jerome Ebanks to CEO
In October, we announced the appointment of a new Cayman CEO and COO. Jerome Ebanks, who has been with the bank since 2023, moves into the role of CEO, bringing with him over 15 years of experience as a Trust Estate practitioner, working within a number of international banks and renowned trust companies, including some of the largest in the Cayman Islands. A registered Director with the Cayman Islands Monetary Authority (CIMA), Jerome also has a wealth of knowledge covering digital assets and is a certified Block Chain Expert (CBE) and is a STEP Council Member, serving as Secretary for the STEP Cayman Branch. As CEO, Jerome will lead the Cayman Islands FundBank management team and employees, overseeing multiple institutional banking product lines and leading the development and execution of the bank’s strategy for the jurisdiction.
Appointment of Albert Chin to COO
Albert Chin has been appointed as Cayman COO, having been with FundBank since its inception. He brings to the role extensive skills and experience in banking operations, information technology management, and software development, gained during his career working with leading banking institutions within the Cayman Islands.
Launch of FundBank’s operation in Dublin
The opening of a new FundBank location in Dublin underscores our commitment to our growing European client base, having already launched banking operations in Luxembourg earlier this year. FundBank is now strategically placed to provide its European clients with unparalleled levels of customer service and a comprehensive suite of banking products.
David Morrissey joins FundBank
We were also delighted to announce in November the appointment of David Morrissey to the position of Country Head, Ireland to lead our team in Dublin, driving growth and providing strategic direction for the bank. David will play a pivotal role in operational leadership and business development and will lead all aspects of client service delivery across multiple institutional banking product lines for FundBank’s Ireland-based clients.
A funds industry expert, David has over 30 years’ experience working within financial services, including senior leadership roles at global firms such as SEI Investments and Waystone. David brings to FundBank a proven expertise in product development and driving business growth in key jurisdictions, including both Ireland and Luxembourg and is a trusted leader in establishing and growing cross-border financial services operations.
Investing in technology and innovation for investment funds
In August, we announced that we had gone live with Temenos to power our expansion into North America. Temenos provides cloud-based (SaaS) solutions to help banks run and scale their operations efficiently. Its platform offers tools for core banking, digital banking, and customer experience, supporting our expansion into new markets, streamlining our operations, and allowing us to offer enhanced digital services to clients. This key collaboration will mean FundBank can launch new products faster, elevate the digital experience, and scale efficiently.
In December, we were pleased to announce our strategic collaboration with Fund Recs, as it implements its advanced data transformation platform, Fusion. This will empower us to manage diverse data sources more efficiently and significantly enhance our operational capabilities. The Fusion system is delivered as a fully hosted (SaaS) and puts an easy-to-use ETL solution into the hands of our clients. By optimising workflows, Fund Recs’ platform will allow us to focus on delivering exceptional service to our clients. This key partnership highlights our commitment to innovation and operational excellence.
Our proactive investment this year in scalable, future-ready banking solutions to automate and optimise operations across our business will be key to our future growth, enabling us to provide a simplistic approach to banking for investment funds and managers, allowing them more time to focus on managing their portfolios.
FundBank on the road: indsutry event highlights
We were delighted to attend both GAIM Ops Cayman in April GAIM Ops West this October. These events are always a highlight of the industry calendar, and we were delighted to be a sponsor again this year. As the #1 alternative investment operations conference, GAIM is known for its esteemed speakers, addressing the hot topics and for its insightful discussion. It is always a great opportunity to meet with clients and our industry peers to discuss pressing themes, including the challenges and opportunities for the year ahead for the asset management industry.
FundBank Spotlight events
New York
In November, were pleased to host both the New York and Cayman FundBank Spotlight events. We were delighted to host industry colleagues, clients and friends at an interactive event in New York, taking an exclusive look into the future of banking for the asset management industry. The event was moderated by industry expert John D’Agostino who was joined by special guests sharing their valuable insights, as we explored the evolving risks of AI-driven identity theft and how the funds industry is adapting to crypto and stable coin.
Cayman Islands
Later in the month, our FundBank Cayman Spotlight explored the transformative role of AI and the growing influence of digital assets. Clients, industry peers and friends were welcomed at this interactive and dynamic event by our newly-appointed Cayman CEO, Jerome Ebanks and COO, Albert Chin.
We look forward to hosting more of the same engaging events in 2026 and continuing the conversation on the key trends driving the asset management industry.
FundBank celebrates key business award win
In October, FundBank celebrated its HFM award for best business banking service at the HFM awards ceremony in New York. These awards celebrate service providers who have gone above and beyond over the past year, delivering outstanding client service, driving innovation, and setting new standards across the hedge fund services sector.
Looking ahead to 2026
FundBank’s global expansion continues at pace, with fully-licenced banking operations now live in Cayman, North America and Europe. Throughout 2025, each region’s headcount has grown significantly, as we expand our business banking products and services. As we do so, we are guided at every stage by our three core principles: safety, liquidity, speed. We maintain our rigorous commitment to excellent customer service and we continue to respond to the industry; providing our clients with cutting-edge technology to enhance their asset management business, including a fully-digitised onboarding experience that allows clients to open and manage their accounts seamlessly and efficiently. As we move into 2026, our proactive investment in technology will further support our ability to continue to deliver an exceptional user experience to our clients around the globe.
*The term FundBank refers collectively to FundBank Ltd., a Cayman Islands Class B Bank, FundBank, NA, a US National Association, and FundBank (Europe) SA, a credit institution incorporated under Luxembourg law, and their affiliates. These banks are separately chartered and regulated in their respective jurisdictions and have common majority ownership. All products and services referenced in this presentation may not be available at all FundBank banks or in all jurisdictions. Details about each bank’s products and services are available on their respective webpages.