Seeking European business, US Bank of America expands to Luxembourg

SAN FRANCISCO, California: In an interview with Reuters, Matthew Davies, head of Bank of America's global transaction services unit for Europe, Middle East and Africa, said the bank has hired former BNP Paribas banker Benoit Nevouet to be the manager of a newly created Luxembourg branch.

Opening a branch in the small but wealthy country is part of the bank's efforts to grow its business in Europe, and provide se