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Walter Varvara
Jurisdictional Head of Depositary Services

Luxembourg

Walter oversees day-to-day depositary operations, client relationship management, controls, processes and reporting procedures. He also ensures that the Group and our clients comply with the applicable legislative frameworks.

As a member of the Group’s Depositary leadership team, Walter is also involved in our business development efforts, including promotional activities and overseeing client proposals and migrations for the depositary business in Luxembourg, and became Jurisdictional Head of Depositary Services in 2023.

Background and experience

Walter launched his financial career as a junior risk manager at UniCredit Bank in Luxembourg more than a decade ago. He was actively involved in the implementation of the Basel II project, focusing on credit and operational risk.

Since then he has held a number of risk and internal control roles within European asset managers and insurance, including Zurich and Banca Generali Fund Management, where he was responsible for monitoring compliance of new investments with fund’s strategy and regulation as well as monitoring of risk limits.

His most recent role was vice president in the depositary bank for BNY Mellon. Walter led the Business Control team of 21 people, servicing a diverse portfolio of more than 60 clients and 500 UCITS and alternative funds.

Qualifications

  • Master’s Degree in International Finance and Risk Management from La Sapienza Università di Roma
  • Bachelor’s Degree in Banking, Insurance and Financial Markets from La Sapienza Università di Roma

Outside of the office

Walter loves football and is a big fan of Inter Milan, enjoys keeping fit and trains at least four times a week. He is a keen traveller, with a yearning to discover new places, cultures and foods. He’s also an avid reader of thriller novels and likes riding his motorbike.

Walter is an Italian national and is also fluent in English and French.


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