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Luxembourg’s economic stability and the expertise available in its specialised eco-system continues to attract global financial firms, amidst the Covid-19 pandemic, with 82 new entities being licenced to operate by the country’s two financial regulators during 2020. The Grand Duchy saw licences granted to 5 new banks, 11 new Management Companies, 4 new investment firms, 4 reinsurers and others such as support PFS and specialised PFS institutions, payment institutions and e-money institutions. Luxembourg continues to be particularly attractive for alternative investment fund managers (AIFMs) with 18 new AIFMs and 31 new “light” AIFMs[1] licenced in the year.
Commenting, Nicolas Mackel (picture), CEO of Luxembourg for Finance said: “The past year has been unlike any...
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