Interactive Investor is in the process of selling its operation in Luxembourg as it seeks to focus on the UK platform business it owns.The company said it is selling its Internaxx Bank SA operation to Swissquote Group, subject to regulatory approval by the CSSF and the ECB in Luxembourg.

Internaxx was acquired by Interactive Investor as part of the acquisition of TD Bank’s European direct investing business. Interactive Investor said it has £20bn of assets under administration and 300,000 customers in the UK.The company is majority owned by the JC Flowers private equity business. In January the company hired Richard Hunter, formerly head of equities at Hargreaves Lansdown, as head of markets.”

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