Wealth Managers

The number of millionaires in Luxembourg fell significantly in 2024, but those at the top of the wealth pyramid continued to grow their fortunes.

External portfolio reviews are becoming a core strategic tool for wealth managers navigating volatile markets. For firms like Natixis Investment Managers, Blackrock, and Morgan Stanley, these second opinions deepen client engagement and sharpen their competitive edge.

Wealth managers enjoy exceptionally high levels of client satisfaction worldwide, yet nearly one-third of those clients are considering switching providers in the coming years. More specialized service providers are emerging as the preferred alternative.

ABN Amro is raising the entry threshold for private banking in the Netherlands from 500,000 to 1 million euros as of 1 June. In Belgium, the Dutch bank is rebranding its private banking arm under the MeesPierson label, part of a broader ambition to become a top-three player in the four countries where it offers wealth services: the Netherlands, Belgium, France, and Germany.

Rothschild & Co has opened a new wealth management office in Luxembourg under its Rothschild Martin Maurel brand.

Quintet reports higher profits, but income falls and growth remains unclear. Efficiency gains drive results as key questions go unanswered.

Institutional investors remain wary of semi-liquid private funds, a sentiment that was on full display at this year’s Luxembourg Meeting for Private Markets Investments, a German-language private markets conference known as Lumpi.

Saxo Bank has a new majority shareholder: Swiss private bank J. Safra Sarasin, part of the Brazilian J. Safra Group. The private bank is acquiring the stakes held by Chinese automotive group Geely and Finnish asset manager Mandatum, taking its ownership to 70 percent.

Women are reshaping wealth management, yet remain underrepresented in investment decisions. As female investors gain financial power, wealth managers must adapt—or risk missing out on a trillion-dollar market.

Luxembourg’s private banks need embrace digital innovation to stay competitive, tackle regulation, and attract talent. ABBL Chairman Yves Stein speaks on the future of private banking in the Grand Duchy.