The Prime Minister of Andorra Antoni Marti met in Andorra with the founder and CEO of J. C. Flowers – the largest investment fund of the United States J. Christopher Flowers. The meeting was also attended by the director general of J. C. Flowers Michael Christner, the minister of Foreign affairs of Andorra Gilbert Saboya and the CEO of Vallbanc Christopher Lieber.
J. C. Flowers became the owner of the “net assets” of Banca Privada d’Andorra, which has been converted into Vallbanc. As it was reported earlier, the cost of the transaction was 29 million euros.
Christopher Flowers expressed the hope that the presence of the investment fund of North America on the Andorran market will allow Vallbanc to become competitive and attractive to customers, which fully meets the economic interests of the principality.
J. C. Flowers & Co was established in 1998. The company focuses on financial services. The assets under management of J. C. Flowers & Co is about $9 billion.