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By Giovanna GIARDINA, Advisory Partner - Risk Consulting, Daniel RECH, Banking Market Leader, Vincent EHX, Partner, Asset Servicing Market Leader, KPMG Luxembourg
The market for traditional and alternative funds for which Luxembourg banks act as the depositary or custodian continues to grow and indeed shows robust health, according to KPMG’s latest Depositary Banking and Custodian Services survey in conjunction with the CSSF and ABBL.
The study, finalized towards the end of 2024 and based on 2023 data, is the second such exercise we have carried out and is based on responses from over 40 banks. It is supplemented by additional insights from 30 banks taken from the ‘UCI Depositary’ section of the Long Form Report (LFR) that banks submit to the...
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