Opinion on Wealth Management and Private Banking in Luxembourg

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Type Product title / description Pub Price
CommentWire
CommentWire

Kredietbank Luxembourg: bolstering its Belgian boutiques

Kredietbank Luxembourg (KBL), a subsidiary of the KBC Group, has agreed to buy HSBC Dewaay, a private bank owned by HSBC and operating in Belgium and Luxembourg. This looks like a sensible move, as adding Dewaay to its Puilaetco Private Bankers division should boost KBL's presence in Belgian private banking, as well as underscoring the potential of the 'boutique' banking model.

Published By Datamonitor
14 Jul 2005
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Luxembourg remains the largest offshore center in the world

Since 2008, a number of initiatives launched by many Western economies at a global level have been aimed at traditional offshore centers in order to stop them being used as tax havens by the rich. Luxembourg, however, has maintained its position as the largest offshore center in the world, thanks to its dominance in the European funds market, especially among offshore clients.

Published By Datamonitor
19 Jul 2012
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FATCA: UK follows in US's footsteps

The Cayman Islands has announced that it will implement a FATCA Model 1 intergovernmental agreement with the US and that it will seek similar automatic exchanges of information with the UK. The announcement marks the latest major offshore jurisdiction to enter into a FATCA agreement with the US and, unsurprisingly, also with the UK.

Published By Datamonitor
05 Apr 2013
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Switzerland sticks to bank secrecy, for now

Switzerland is resisting pressure from the EU and says it will not follow Luxembourg in abandoning bank secrecy. The fact that the country eventually, albeit reluctantly, signed a FATCA agreement with the US indicates that if Switzerland wants to survive as an offshore financial center it will eventually have to accommodate EU demands for greater transparency.

Published By Datamonitor
17 Apr 2013

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