A merger between two specialised companies does not always mean good news.

The BGL Investment Partners Paribas and Fortis Investment merger may well, according to Luxemburger Wort, mean the loss of 100  Fastnet employees,  one of the top three fund managers to Grand Duchy.

BNP Paribas has aimed to “swallow up” funds held by Fortis, currently the Fastnet platform, into its own entity, BNP Paribas Securities Services.

For Fastnet this is a big loss, since Fortis manages no less than 40 billion euros, which still represents 27% of its assets under management.  A loss that could have serious repercussions on the social level.

The Luxemburger Wort which takes its information from a source close to the sector mentioned in today's news that 100 jobs are at risk.

This figure could not be Confimed by the Fastnet which currently employs 680 people.