Banque Havilland, set up by David Rowland for the super-rich, has had its licence revoked. By Michael Bow
The Daily Telegraph – Saturday
10 Aug 2024
Prince Andrews’ favourite financier, David ‘Spotty’ Rowland, fights to win back banking licence after loss of permissions in EU Prince Andrew was in enthusiastic form when he agreed to open a new bank in Luxembourg for his close friend and…
The recent release of emails related to Jeffrey Epstein has shed light on Prince Andrew Mountbatten-Windsor’s business relationships, particularly concerning David Rowland, a controversial financier. What emerges from these communications is not just a glimpse into royal financial strategies but a troubling narrative about trust, influence, and reputation.
The Emails: A Closer Look
The emails, which have recently surfaced, indicate that Prince Andrew regarded David Rowland as his “trusted money man.” This relationship raises significant questions, especially given the public’s perception of Rowland as a “shady financier.” In these exchanges, we see Andrew promoting Rowland’s financial ventures while simultaneously navigating his role as the UK trade envoy, a position that inherently carries a degree of responsibility and public scrutiny.
“Will finalize F summary for you next week. Can’t now cause she went to Nepal, paying for the first-class flight with her Rowland bank loan.”
The dossier of allegations from the Epstein files that have led to Andrew’s dramatic downfall
Story by Inderdeep Bains, Deputy Chief Reporter
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Andrew Mountbatten-Windsor’s arrest for misconduct in public office follows a vast slew of allegations that have tumbled out of the explosive Epstein files.
The then-Prince Andrew was handed the prestigious role of UK’s trade envoy in 2001 in a bid to provide him with a new lease of life after the end of his 22-year Royal Navy career.
For more than a decade, the former duke travelled the world seemingly unfettered – developing questionable friendships and lavishing taxpayers’ money on his luxury overseas sojourns along the way.
His penchant for taking long haul trips – often via desirable destinations including ski slopes and top golfing locations – earned him the nickname Air Miles Andy.
He was eventually forced to step down from his globe-trotting duties in July 2011, following months of public outcry over his links to convicted paedophile Jeffrey Epstein.
Now mounting claims suggest he may have exploited his position for something far more sinister than mere travel perks.
Here, the Daily Mail examines the dossier at the heart of the King’s brother’s dramatic downfall:
Andrew Mountbatten-Windsor has been arrested on his birthday and is in police custody. He can be held for 24 hours without charge
A group of police officers in plain clothes arrive at Wood Farm this morning, where searches began
Windsor: Police officers are seen at the gates of Andrew’s former home in Berkshire, Royal Lodge
February 2010
Andrew appeared to send a confidential Treasury briefing on the financial crisis then gripping Iceland to his banker friend Jonathan Rowland.
The then prince suggested Mr Rowland, son of Tory donor David Rowland who Andrew was close to, read it ‘before you make your move’.
The emails show Andrew had tasked his deputy private secretary Amanda Thirsk to request an update from the Treasury.
At the time, the UK and Iceland were having a diplomatic row over British deposits lost in the 2008 banking crisis.
Ms Thirsk wrote on February 8: ‘The Duke of York….would very much like to receive an update note on the latest position between the UK and Iceland on the matter of the deposits and the deposit scheme.’
When the Treasury official replied with a note, she forwarded it to Andrew. Two hours later, he allegedly sent it to Mr Rowland, whose bank had bought assets from a failed Icelandic lender a year earlier.
Andrew told him: ‘I pass this on to you for comment and a suggestion or solution?
‘The essence is that Amanda is getting signals that we should allow the democratic process [to] happen before you make your move. Interested in your opinion? A.’
Jonathan Rowland and his wife Anya were among the guests seen attending Princess Eugenie’s wedding in 2018
Mr Rowland was the chief executive of Banque Havilland, a bank founded by his father which was connected to a major investigation by Icelandic authorities at the time.
The email was sent days after a raid on the offices of Kaupthing Bank, part of which had just been acquired by Banque Havilland, after the Icelandic bank collapsed.
Andrew’s connections to the Rowland family go back years.
Mr Rowland Snr once gave Sarah Ferguson £40,000 to help clear debts and documents suggest he once paid off a £1.5million bank loan for the former duke.
Mr Rowland Snr was also invited to Balmoral – where he reportedly met the Queen and took tea with the Prince of Wales.
April 2010
After the three-day China trip in March, Andrew’s senior aide Amanda Thirsk apparently forwarded banker Jonathan Rowland a Foreign Office cable that included details of talks between Andrew and leading Chinese politicians.
Documents show the cable was marked ‘sensitive’ and meant for Government officials.
The cable allegedly detailed face-to-face talks during the trade visit with Wang Qishan, China’s vice premier, and Chen Deming, the commerce minister.
July 2010
Andrew allegedly shared an email exchange discussing sensitive information about taxpayer-owned Royal Bank of Scotland and Aston Martin to David Stern.
Mr Stern, a London-based German businessman who acted as an intermediary between Andrew and Epstein, promptly shared it with the disgraced financier.
David Stern (pictured left) features in 7,461 documents in the latest Epstein files, including a photograph of him with the former Duke and Duchess of York
The former duke is believed to have shared details learned from meetings with bank executives in the wake of its £45billion state bailout.
Andrew allegedly revealed sensitive information about RBS shake-up plans and, without foundation, alleged that experts overseeing the bank were privately critical of its chief executive.
He also passed on information about Aston Martin, including claims of internal tensions amid a slump in sales.
The exchange was between Andrew and Terence Allen, an investment banker in the UAE.
Mr Allen said there was ‘clearly’ a ‘bunch of assets for sale’ at RBS, adding: ‘We are looking at some of their distressed real estate for our clients..’
Andrew responded he had been told by an RBS executive that RBS-owned private bank Drummonds would ‘be reviewed’ and become ‘more integrated’ with Royal bankers Coutts.
Andrew also revealed that chief executive Sir Stephen Hester was not thinking of selling a stake in RBS’s ‘subsidiary brands’ because he had ‘more important things to worry about.’
September 2010
Mr Stern was asked to ‘help’ plan the then duke’s taxpayer-funded trip as trade envoy to China while consulting Epstein on potential meetings.
Although Andrew spent 10 days on the official visit, emails reveal he insisted that the first four days of his trip should be ‘private’.
While there, he dined with a glamorous Chinese model and took a bamboo raft with another woman – while Mr Stern sent discreetly taken photos to Epstein.
Andrew is pictured with his private secretary Amanda Thirsk at the RHS Chelsea Flower Show in 2020
Police outside Wood Farm on the Sandringham Estate in Norfolk, where Andrew was held
In one email about the visit, Mr Stern sent Epstein an image of a Chinese actress adding: ‘We have dinner on Sunday in Beijing with this p.’
The ‘p’ was used as code for a derogatory term for women.
After his return, Mr Stern allegedly emailed Epstein to tell him he was planning potential business deals thanks to Andrew’s trip.
Financier Jonathan Rowland was also reported to have been with Andrew on the trip where he was able to use the ex-duke’s access to try to land clients for Banque Havilland.
November 2010
Andrew apparently lobbied for Epstein during an official visit to the UAE with the late Queen where he stayed in a £1m villa as a gift from the nation’s rulers.
Later that month, Andrew appeared to have forwarded Epstein Whitehall reports of his recent visits to Singapore, Hong Kong and Vietnam – including confidential details of investment opportunities.
A doctor at Jeffrey Epstein’s post mortem said the paedophile was strangled and not hanged
Emails on November 30, show he passed on the material sent by his then-special assistant, Amit Patel, to Epstein, five minutes after receiving them.
At the time, Andrew was staying with Epstein at his New York mansion and had breakfast with the paedophile and businessman Andrew Farkas that morning.
Late 2010
Emails over October and November that year show Andrew appeared to try to facilitate a meeting with the then Libyan dictator Colonel Gaddafi for Epstein.
Epstein wanted to secure a role managing money for Gaddafi, and tried to meet with him or his associates via the then prince, the emails suggest.
On November 4, Andrew emailed Epstein, saying: ‘I will call you later this evening after I have had my chat with my Libyan contact to see what we can arrange for you in Tripoli.’
Mere hours later, he follows up with this message: ‘Libya fixed. Call me whenever.’
However, the meeting is not believed to have taken place.
December 2010
Andrew sent Epstein a ‘confidential’ briefing on Afghanistan including ‘high value commercial opportunities’ in gold and uranium.
Andrew had claimed in his disastrous 2019 Newsnight interview that he had cut off ties with Epstein after his visit to New York where he claimed he ended his friendship with the convicted sex offender.
Police officers walk near the entrance to Royal Lodge on Thursday
However, on Christmas Eve that year, he emailed Epstein a report on investment opportunities in the reconstruction of the war-torn Helmand Province, which was overseen by British armed forces and funded by UK government money.
In the email Andrew asked for ‘ideas as to whom I could also usefully show this to attract some interest’.
The document marked confidential was titled ‘Helmand Investment Opportunities Brief Final.doc’.
February 2011
An email shows Andrew allegedly suggesting that Epstein should invest in a private equity firm which the then-prince had visited the week before.
July 2011
Andrew bows to public pressure over his ties to Epstein and steps down from his role as the UK’s Trade Envoy.
However, he says he intends to serve as a ‘senior working royal’ focusing on boosting British business.
Critics claimed that it was a ploy designed to allow him to continue clocking up miles using the public purse.
Just weeks later, it emerged he had spent up to £150,000 of taxpayers’ money on chartering a private jet to fly to Saudi Arabia and back for a three-day trip to promote British ventures.
2016
Andrew earned commission of £3.83million after acting as a fixer for Greek and Swiss businesses which wanted to build water and sewage networks in Kazakhstan.
It was also later revealed that he had made a secret deal to fly around the world on a £30million luxury jet owned by financier Mr Rowland Snr.
Andrew arranged for the sumptuous 14-seat plane to be used for some of his overseas Royal engagements and continued to fly on it until May 2019.
Retired, living in the Scottish Borders after living most of my life in cities in England. I can now indulge my interest in all aspects of living close to nature in a wild landscape. I live on what was once the Iapetus Ocean which took millions of years to travel from the Southern Hemisphere to here in the Northern Hemisphere. That set me thinking and questioning and seeking answers.
In 1998 I co-wrote Millennium Countdown (US)/ A Business Guide to the Year 2000 (UK) see https://www.abebooks.co.uk/products/isbn/9780749427917
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