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Luxembourg Private Banking AuM Drop 2% to €585bn, Net Income Up 24% in 2022

Luxembourg Private Banking AuM Drop 2% to €585bn, Net Income Up 24% in 2022
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Anne sophie minaldoJerry grbicFabio mandorinoLuxembourg banker associationBanking reportPrivate banking clusterPrivate banking reportGrand duchy

10 years later: transparency is required but costly

In the sixth and final part of a series on the end of banking secrecy for non-residents, Delano reports on the benefits of Luxembourg being perceived as a stable country, the work being done for the country to keep its edge over the competition and the efforts undertaken against virtual tax evasion.

City ofUnited kingdomFrance generalBernard lhoestFabio mandorinoCamille seillBanque degroof petercamLuxembourg banker associationUniversity of luxembourgAdministrative cooperation

10 years later: Brexit and active client prospection

In the fourth installment of a six-part series, Delano reports on the necessary paradigm shift that took place for private bankers to be successful, the Brexit windfall and the gradual benefits of improving Luxembourg’s financial reputation.

Noord hollandUnited kingdomUnited statesCity ofLombard odierBernard lhoestCamille seillFabio mandorinoLuxembourg house for financial technology lhoftAssociation of the luxembourg fund industry alfiGoldman sachsLuxembourg banker associationJp morganFinancial action taskBanque de luxembourgLuxembourg fund industry

10 years later: it was not so bad after all

In the third instalment of a six-part series, Delano reviews the consequences, challenges and opportunities related to the end of bank secrecy for non-residents. Local actors, such as many private banks, addressed them head-on, while Brexit helped soften the blow on private banks by increasing the business for financial institutions and private investments.

United kingdomUnited statesFabio mandorinoJean guillCamille seillBernard lhoestLuxembourg banker associationUs department of justiceEastern europe