Luxembourg Report 2010

Luxembourg has been forced to step back and take stock of the way things are done. In doing so it found that actually, the Grand Duchy is still a reliable and reputable financial centre – and asset servicers on location are more than happy to talk about its achievements. (part 2)

Régis Veillet (head of sales & client relationship, SGSS Luxembourg), Martin Bock (head of product management, RBC Dexia Luxembourg)
Fabrice Godefroid (head of securities & funds services, Citi Global Transactions Services), Tim Gandy (global head of fiduciary & compliance services, JP Morgan WSS)
Josée Denis (VP Emea sales & business development, BNY Mellon Asset )Servicing

If Luxembourg’s funds industry was shaken by events of the last 18 months, you would hardly know it, finds Nick Fitzpatrick.

Northern Trust’s Luxembourg business focuses on the firm’s client-centric approach; offering complex, tailored solutions and building strong partnerships.

Microfinance funds domiciled in Luxembourg are mushrooming with many efforts being made to stimulate the sector further. But these funds still face the problem of cross-border distribution. Angele Spiteri Paris reports.

Following the Madoff fraud, the duties of depositary banks were highly scrutinised. Regulators found that requisite checks were in fact made and new guidelines are simply a reassertion of best practice. By Angele Spiteri Paris.

Luxembourg is a stronger domicile for the challenges it faced over the last 18 months. But perhaps more needs to be done at an industry level to convey Lux’s successes as a fund haven throughout the financial crisis. Senior figures from the industry consider this point and talk about their experiences of working in the second largest fund domicile in the world. (part 2)

Bob Kneip (CEO, Kneip), Noel Fessey (head of European fund services, Schroders), Martyn Cuff (Managing director, Allianz GI)
Michael Ferguson (head of asset management practice, Ernst & Young), Charles Müller (deputy director general, Alfi)

Luxembourg is a stronger domicile for the challenges it faced over the last 18 months. But perhaps more needs to be done at an industry level to convey Lux’s successes as a fund haven throughout the financial crisis. Senior figures from the industry consider this point and talk about their experiences of working in the second largest fund domicile in the world. (part 1)

Bob Kneip (CEO, Kneip), Noel Fessey (head of European fund services, Schroders), Martyn Cuff (Managing director, Allianz GI)
Michael Ferguson (head of asset management practice, Ernst & Young), Charles Müller (deputy director general, Alfi)

A Chinese bank setting up a Luxembourg Ucits fund inevitably means it could compete with European and American managers’ cross-border business in Asia and the world, says Nick Fitzpatrick.

The Grand Duchy’s robust reputation was almost dented in the onslaught following the Madoff scandal, but Luxembourg’s quick call to action and diplomatic efforts have restored its status, says Angele Spiteri Paris.

Luxembourg has been forced to step back and take stock of the way things are done. In doing so it found that actually, the Grand Duchy is still a reliable and reputable financial centre – and asset servicers on location are more than happy to talk about its achievements. (part 1)

Régis Veillet (head of sales & client relationship, SGSS Luxembourg), Martin Bock (head of product management, RBC Dexia Luxembourg)
Fabrice Godefroid (head of securities & funds services, Citi Global Transactions Services), Tim Gandy (global head of fiduciary & compliance services, JP Morgan WSS)
Josée Denis (VP Emea sales & business development, BNY Mellon Asset )Servicing