Wealth Managers

The next decade will witness the largest wealth transfer in history.

If you want to be considered wealthy in Luxembourg, you’ll need to earn an annual gross income of at least 365,000 euro.

BlackRock’s strategic 3.2 billion dollar acquisition of U.K. data firm Preqin opens the door towards indexing private markets and can be seen as a defensive move against the threat of private equity.

Luxembourg’s financial regulator CSSF plans to make public an online register of European long-term investment funds (Eltifs) later in in July. The register will be updated every month with new registrations.

Amsterdam-based investment firm Van Lanschot Kempen is keen to expand its market share in Belgium.

Ultra-rich families are increasingly casting their eye on sports as an asset class. According to Goldman Sachs, interest is fuelled by rising valuations and lucrative media contracts.

Luxembourg fund vehicles are increasingly being used to finance international independent film production.

Asset managers are expressing concerns over the European Commission’s lack of a clear definition for “value for money,” arguing its subjective nature complicates the assessment of investment service costs amidst new regulatory pressures.

Degroof Petercam, Belgium’s largest private bank with a significant presence in Luxembourg, on Wednesday posted a double-digit decline in its full year net profit because of one-time costs related to sale of a majority stake to France’s Credit Agricole group and due to higher tax pressure.

Addressing its business performance, the firm said its private banking business improved due to higher interest rates, while its asset management activities faced a decline in revenues. 

Despite constant new regulations and sophisticated technology, one of the main reasons why money-launderers and terrorism financiers continue to succeed is a simple lack of qualified personnel able to make effective use of such tools, according to a recent survey carried out in the Europe, Middle East and Africa (EMEA) region by global accounting firm PwC.