Private Banks

Wealthy families are no longer anchored to a single country, and neither are their assets. As heirs disperse and capital flows across jurisdictions, succession planning is shifting from domestic estate structuring to cross-border patrimonial engineering, a transition that is quietly reshaping Luxembourg’s role in European wealth management.

Luxembourg is increasingly becoming an operational necessity rather than a strategic option. From independent wealth structuring firms such as Norman K to larger private banking groups including Rothschild Martin Maurel, institutions are reinforcing their presence in the grand duchy to serve an increasingly international client base amid growing cross-border complexity and regulatory pressure.

InsingerGilissen CEO Martijn Storsbergen discusses how the Dutch private bank is positioning itself within the Quintet group, arguing that a strong parent company and scale have become essential in today’s private banking landscape.

ING wants to double its activities in private banking, wealth management, and investments by offering these services globally. In recent months, the bank introduced private banking in Poland.

Indosuez Wealth Management is addressing changing demographics in wealth by developing more sustainable offerings and management solutions based on exchange-traded funds (ETFs), all while ensuring that they gain and maintain the trust of younger clients.

The great wealth transfer isn’t just a handover of assets. It’s a clash of priorities between generations. At HSBC Luxembourg, Emanuele Vignoli is helping families bridge that gap with a blend of technology and trust.

ING Luxembourg has signed a referral agreement with Post Luxembourg to provide an alternative for its 4,500 business banking clients as the Dutch lender accelerates its exit from services for local SMEs, self-employed professionals and entrepreneurs.

Degroof Petercam sees many new opportunities for international cooperation following its takeover by the French Indosuez, said CEO Sylvie Huret in an interview with Investment Officer. Not only within Indosuez, but in the wider ecosystem of parent group Crédit Agricole, which also includes fund giant Amundi.

Frédéric Degembe, Chief Investment Officer of ING Belgium, is enthusiastic about the unified Investment Centre announced by parent group ING. “It’s a growth story in which Brussels can play a key role,” he said.

ING Luxembourg has put hard numbers on the human cost of its strategic retreat into private and wholesale banking. Up to 124 jobs are set to go.