Luxembourg

This week’s overview of senior appointments and leadership changes includes updates from Aon France, Allianz Benelux, Mimco Capital, and SnapSwap.

A new tax regime, set to take effect in 2026, has been designed to update how carried interest is treated for managers involved in alternative investment funds and private markets. The proposed law reflects Luxembourg’s ambitions as a global private market player.

Luxembourg, long seen as the administrative engine of Europe’s fund industry, has evolved into a strategic global hub, with U.S. asset managers leading the charge. Firms like Blackrock, Invesco, and JPMorgan are anchoring cross-border operations in the Grand Duchy, turning it into a launchpad for global growth and highlighting America’s dominant role in shaping Europe’s financial future.

Degroof Petercam, once a pillar of Belgian finance, has now been fully absorbed into the Indosuez group in Luxembourg, marking the end of its independent operations in the Grand Duchy.

Hind El Gaidi, head of Luxembourg at ICG, has been appointed president of the Luxembourg Private Equity and Venture Capital Association (LPEA).

Columbia Threadneedle Investments is preparing to launch a new range of Irish-domiciled active ETFs, but unlike many of its peers, the firm will oversee these funds from Luxembourg, not Dublin.

As artificial intelligence takes over functions once handled by offshore teams, asset managers and their services firms face a new frontier, one that blends automation gains with urgent ESG questions.

This week’s overview of people transfers and appointments includes updates from Schroders, Amundi, IBS Capital Allies, Partners Group, and Luxembourg industry associations Alfi and LPEA.

Luxembourg is gradually carving out a role in global private markets, not with fanfare, but through quiet, deliberate action. Emerging investor relations roles, a growing presence of single family offices, and a measured push to localise fundraising are reshaping its identity beyond its traditional middle-office roots.

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