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Your depositary partner

for alternative funds

About us

We’re the go-to depositary for alternative fund services providers who seek an independent, noncompetitive and reliable business partner.

In a world of ever-increasing regulatory responsibilities, we’re here to support you with your depositary duties.

Our services encourage more investments into alternative funds by promoting best-in-class depositary standards aligned with the most stringent regulatory requirements.

As our sole focus is on the depositary side of the fund life cycle, we’re the preferred partner for other independent fund industry professionals, including AIFMs, central administrators and lawyers, who are often reluctant to cooperate with rival one-stop-shops.

Our business model is synonymous with cooperation.

Who we are

We’re an independent MiFID investment firm and a brokerage house with offices in Luxembourg and Poland.

For the past decade, we’ve been a preferred partner for capital markets professionals like investment funds, asset managers and other players in the investment ecosystem.

We’re approved by the financial regulators in Luxembourg (CSSF) and Poland (KNF) to offer depositary services for alternative investment funds, including custody of financial instruments.

On the Polish market, our licence additionally covers equity and debt financing, securities safekeeping, and brokerage transactions services for a variety of instruments.

What we do

We’re Luxembourg’s first investment firm authorised by the CSSF – the financial regulator – to act as a depositary for alternative funds.

Our offering is unique, as the scope of provided services is broader than under a traditional Professional of the Financial Sector (PSF) licence.

Type of depositary service providers

Depositary Bank
securities accounts
financial instruments
open-ended funds
closed-ended funds
independent depositary
possible
bank accounts
Investment Firm Depositary
securities accounts
financial instruments
open-ended funds
closed-ended funds
independent depositary
bank accounts
Specialised PFS Depositary
(Article 26-1 of LFS)
securities accounts
financial instruments
open-ended funds
closed-ended funds
independent depositary
impossible
bank accounts

Key figures

€17 billon

assets under custody

220 clients

alternative investment funds

70+ people

 

data as of 31st May 2022

What makes us different?

Independent

an agile, pro-active and client-centric relationship model

Simple pricing

service fee based on long-term subscription agreements

Less red tape

as opposed to banks, being an investment firm allows us to be more flexible and less procedural

Regulatory compliant

as a CSSF-regulated investment firm, we follow the rigorous standards of EU regulations

Synergies

we leverage the experience gained from managing Polish AIFs – similar in structure to Luxembourg ones – which leads to cost-saving at the group level and more attractive pricing.

Our story

In late 2020, in the midst of the pandemic, we became the first-ever investment firm to be granted the Luxembourg financial regulator’s approval to act as a depositary for alternative investment funds.

We reached this milestone after several years of continued expansion servicing alternative funds in Poland. In 2019 came the time to step up our presence and secure a foothold in Luxembourg.

The first legal requirement was to get approval to open a foreign branch from our primary regulator, the Polish Financial Supervision Authority (KNF). With KNF having no objections to our ambitious plans, the next step was to secure the Luxembourg regulator’s authorisation for opening a branch in the Grand Duchy.

We took the time to prepare the required documentation and made sure our file was top-notch. The effort paid off, as we were granted CSSF’s licence in an ultra-fast process that lasted less than two months.

In November 2020, we were all set and launched the Luxembourg branch offering depositary services for alternative funds and onboarded the first client in early 2021.

Incorporation of Q Securities
Incorporation of Q Securities
Polish Financial Supervision Authority (KNF) grants licence for brokerage activities in Poland
Polish Financial Supervision Authority (KNF) grants licence for brokerage activities in Poland
Notification to KNF of intention to provide cross-border activities in Luxembourg, Malta, Cyprus and Slovakia
Notification to KNF of intention to provide cross-border activities in Luxembourg, Malta, Cyprus and Slovakia
Launch of depositary services for Poland-domiciled alternative funds
Launch of depositary services for Poland-domiciled alternative funds
Company hits benchmark of servicing 100 funds
Company hits benchmark of servicing 100 funds
Decision to expand to Luxembourg / Polish Financial Supervision Authority (KNF) greenlights international expansion plans
Decision to expand to Luxembourg / Polish Financial Supervision Authority (KNF) greenlights international expansion plans
Q Securities authorised to operate as a Luxembourg branch. CSSF grants full depositary licence to Q Securities S.A. Luxembourg branch, the regulator’s first such licence for an investment firm ever
Q Securities authorised to operate as a Luxembourg branch. CSSF grants full depositary licence to Q Securities S.A. Luxembourg branch, the regulator’s first such licence for an investment firm ever
First Luxembourg clients sign depositary services agreements
First Luxembourg clients sign depositary services agreements
Company forecasts servicing 40 Luxembourg alternative funds and plans further international expansion
Company forecasts servicing 40 Luxembourg alternative funds and plans further international expansion

Services

Depositary services

We offer decentralised depositary services to alternative investment funds across Europe and partner with key industry players, including alternative investment fund managers (AIFMs), central administrators, law firms, auditors, etc.

We offer depositary services to a broad range of Luxembourg-domiciled alternative funds, including:

Private Equity

Public Equity

Hedge Funds

Real Estate

Infrastructure

Crypto

Debt

Securitisation

EuVECA

After many years spent servicing fund industry professionals, we’re deeply aware of the specific needs of alternative funds and how servicing approach should differ from that offered to UCITS. We make sure our offer is tailored and – unlike mainstream service providers – take the time to understand our clients’ needs. As a result, cooperation becomes seamless as we speak the language of the industry professionals.

Our depositary services are compliant with all aspects of the Alternative Investment Fund Managers Directive (AIFMD), in particular with the following requirements:

Cash flow monitoring

Asset safekeeping

Record keeping and non-custody asset verification

Oversight

People

Our focus? Delivering Quality Solutions by Our Highly-Qualified Experts

Management Board

Agnieszka Sawa

Agnieszka Sawa

CEO

Agnieszka has been the company head since 2016. She leads the ever-growing team of 70 people located in Poland and Luxembourg.

read more »

Agnieszka Sawa

CEO

Agnieszka has been the company head since 2016. She leads the ever-growing team of 70 people located in Poland and Luxembourg.
She’s an expert in depositary and custody services for investment and pension funds.
An effective leader, strategist and negotiator, she prides herself in building committed, customer-oriented teams, offering services of the highest quality.
Among her critical professional achievements, she mentions building Q’s depositary business line for alternative investment funds from scratch and achieving the leading market position in Poland.
Before joining Q, she worked at mBank (Commerzbank Group), where she created and oversaw the implementation of depositary services for investment and pension funds.
She holds postgraduate diplomas in Leadership Management and Accounting, and an IFRS in Practice postgraduate diploma.
She’s an avid sailor; she loves travelling and discovering the local cuisine.

Jerzy Kasprzak

Jerzy Kasprzak

Deputy CEO

An expert in investment strategies and finance. He joined Q Securities two years ago to oversee further growth of the company’s three business divisions.

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Jerzy Kasprzak

Deputy CEO

An expert in investment strategies and finance. He joined Q Securities two years ago to oversee further growth of the company’s three business divisions dedicated to professional investors: debt capital markets (DCM), equity capital markets (ECM), and market transactions.
Before joining Q, he worked as a fund manager, investment director and asset manager at Allianz, Ipopema and ING.
Apart from the vast market know-how, he boosts any team’s morale by bringing and building a culture of friendly cooperation based on trust and honesty.
He holds an MA in Economics with a specialisation in derivative-based investment strategies.
If not in the office, he’s an outdoor activities enthusiast, including off-piste skiing and rock climbing.

Małgorzata Popielewska

Małgorzata Popielewska

Executive Committee Member

She joined Q Securities in August 2021 and manages a team of 15 experts in the business infrastructure field comprising risk control, legal and compliance.

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Małgorzata Katarzyna Popielewska

Executive Committee Member

She joined Q Securities in August 2021 and manages a team of 15 experts in the business infrastructure field comprising risk control, legal and compliance.

She’s an experienced and results-driven manager. She focuses on leading by strengthening teamwork and setting the vision, goals and big picture strategies that bring optimal business results.

She’s a senior manager with a successful track record of setting up and leading investment funds and asset management companies. Previously, she was a member of executive committees at Generali Investments TFI and Union Investments TFI, which during her tenure, increased the net asset value from €43 million to €3,4 billion.

She holds an MSc in Finance and Banking from the University of Warsaw Economics Faculty and a post-graduate diploma in renewable energy projects management from Warsaw University of Technology Business Development School.
She enjoys playing tennis, bridge and is committed to ESG topics.

Business Leaders

Careers

For spontaneous applications, send your résumé to office-lu@qsecurities.com

News

Our experts enjoy sharing their industry knowledge. Get inspired by our latest publications.

Comparing virtual assets to a Ponzi scheme ignores that no one guarantees a return from investment into cryptocurrencies, often the defining feature of such schemes, argues Wojciech Kozlowski, Business Development Director at Q Securities.

Newport Logistics Fund has chosen our depositary services for its Luxembourg-domiciled fund. Set up as a RAIF, the fund is the company’s latest investment vehicle to finance investments in warehouse facilities across Europe.

The first Luxembourg-domiciled fund investing fully in crypto assets is expected to launch in less than six months, with necessary regulatory and compliance work underway.

Contact

Contact us to discuss our depositary offer or simply exchange about the latest industry trends.

Warsaw

ul. Marszałkowska 142

00-061 Warszawa

+48 22 417 44 00

+48 22 417 44 01

Luxembourg

46A Av. John F. Kennedy

L-1855 Luxembourg

+352 26 00 55 42

General inquiries

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