Luxembourg

This week’s overview of transfers and appointments includes news from GSK Stockmann, Santander Asset Management, Deutsche Boerse, and HSBC.

Luxembourg is undergoing a significant reform of its corporate accounting framework with the introduction of draft bill no. 8286 on 28 July 2023 (the “New Draft Law”).

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 appointments includes news from Lombard Odier, Waystone, Allianz Global Investors, Stepstone, Stibbe, AKD Luxembourg and the European Bank for Reconstruction and Development (EBRD).

ING Luxembourg is transferring approximately 18,000 retail clients with basic daily banking needs to BGL BNP Paribas.

International law firms Herbert Smith Freehills and Simpson Thacher & Bartlett have announced plans to establish offices in Luxembourg, aiming to strengthen their presence in the private capital sector.

Gregory Kennedy reflects on Luxembourg’s unique identity, its state-driven economy, reliance on cross-border workers, and finance-dominated private sector. Is Luxembourg a “real” country?

This week’s overview of transfers and appointments in the fund and asset management community in and outside Luxembourg includes updates from Goodwin, DWS, Abrdn, Neuberger Berman, Taskize, and others.

Luxembourg startups Vinesia and Ignisign this week head to Lisbon’s Web Summit, showcasing innovative solutions in fine wine investment and secure e-signatures amid Europe’s bustling tech scene.

The Luxembourg financial regulator, the Commission de Surveillance du Secteur Financier (CSSF), has issued administrative fines to five alternative investment fund managers for failing to comply with anti-money laundering and counter-terrorism financing (AML/CFT) regulations.