wealth management

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.

For an increasing number of ultra-wealthy Dutch individuals, the question is no longer just how much tax they pay—but whether the Netherlands remains the right place to live and invest.

Wealth managers must accelerate their transformation or risk falling behind in an increasingly competitive industry. Sustainability has become a lesser priority, according to EY’s latest annual resolutions.

Degroof Petercam has appointed Sylvie Huret as its new chief executive, succeeding Hugo Lasat, who will step down at the end of 2024 after three years at the helm.

Luxembourg’s private banks are falling short in their digitalisation journey, despite recognising its strategic importance, according to a new survey conducted by KPMG in collaboration with the ABBL.

This week’s overview of transfers and appointments in the fund and asset management community in and outside Luxembourg includes updates from Carmignac, CMS Luxembourg, and Mainstreet Partners.

As Luxembourg’s financial ecosystem adjusts to the open finance revolution, wealth and asset managers must navigate a range of hurdles to stay competitive.

Nomadic millionaires increasingly relocate in response to structural changes in the global economy. It means the UK and the Netherlands will millionaires move to other parts of the world by 2028, according to a report by UBS. Luxembourg, meanwhile, remains the country with the biggest number of millionaires per capita, says the Swiss bank.

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.