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Imagine you are a large Asset Service Provider (ASP) CEO, addressing your leadership team on a Monday morning, and telling them we have a week to transform our operation from an almost total office based environment to one where all our people will need to be based at home. Prior to the Covid crisis you would have struggled to do so with a straight face or to retain respect, but in fact this is what the entire ecosystem of the Luxembourg financial sector achieved, with minimal service disruption, affecting around 50,000 people (including banks) servicing over €4trillion of assets, during a period of some of the highest market volatility, and a pandemic sweeping through the country, talk about a “perfect storm”!
PwC Luxembourg today publishes the story of that...
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