Swiss based New Access SA has announced the opening of a new Luxembourg office. The software developer provides packages for banks and private banks and is looking at opening up the Luxembourg banking market.  The sector, by close last year, held assets under management of €900 billion.

The news follows New Access’s recent expansion into the east. Earlier this year New Access announced the opening of new branches in Singapore and Dubai. It was subsequently able to close a deal with Bank Julius Baer & Co. Ltd for the supply of software for their front offices in Asia and the Middle East.

The new office will further consolidate the company’s hold on Europe. New Access currently has two clients in Luxembourg and will be looking to reach into the 150 strong bank network of the country. The former manager of Sopra Group’s Luxemburg office, Jean-Francois Bequevort, is to head the operation.

Founded in 2000 by Alexis Sikorsky with 4 employees, New Access currently employs near to 100 people. The company benefited from the fall of the liquidated international software company Promco SA and acquired all their former assets in mid 2005.  A spokesperson for New Access told wealthbriefing that the company had further openings in the pipeline for next year.