FX specialist Monex opens Luxembourg office
The London-based foreign exchange specialist Monex has opened an office in Luxembourg to serve its EU-based clients after the Brexit transition period ends on 31 December.
The presence in Luxembourg will enable Monex to continue to provide foreign exchange and international payment services to customers based in Europe without any disruptions, said Monex Europe CEO Nick Edgeley.
UK extends post-Brexit market access for European funds
The UK financial regulator FCA had extended market access for investment funds from the European Union beyond the end of the transition period following Brexit for up to three years. Alternative investments funds, however, are excluded from the so-called Temporary Permissions Regime (TPR).
CIBC moves European hub to Luxembourg
The Canadian Imperial Bank of Commerce (CIBC) has moved its European headquarters from London to Luxembourg following Brexit.
‘Private equity must demonstrate commitment to real economy’
On 1 September 2020, Rajaa Mekouar will leave her CEO functions at LPEA, the Luxembourg Private Equity and Venture Capital Association, to fully focus on her PE/VC Head and Portfolio Manager functions. She will be succeeded by Stephane Pesch, who has served as the LPEA’s Director of Strategy since October 2019.
Brexit boosts Luxembourg insurance market
A 44.5% increase in premium income in Luxembourg’s insurance sector last year was driven mainly by Brexit relocations in the non-life sector. However the traditional mainstay for the industry, life insurance, also enjoyed a strong year with income up 18.6%.