“The market for office space here in Luxembourg is liquid, so you will always find a suitable environment to set up your headquarters,” Fischer points out. “We feel comfortable here in Kirchberg because we have access to all the other market participants who are based here. The Big Four accounting firms and top legal companies are only a five-minute walk, so you can give them a call, make a project meeting, and you have the solution half an hour later.”
“The market for office space here in Luxembourg is liquid, so you will always find a suitable environment to set up your headquarters.”
MODERN AND DYNAMIC FINANCIAL CENTRE
Luxembourg's wealth management industry is uniquely specialised in cross-border services. The financial ecosystem works in close collaboration together to explore new possibilities and develop new products.
“As a new CEO of a company here in Luxembourg, you can quickly build up healthy relationships with your peers, with the financial regulator and the government. When you need, for instance, a country manual for a particular country, to ensure that you fully comply with the European requirements and the local law of that particular country, you will get the advice in Luxembourg easily, and that is a significant advantage. It is very hard to find a similar location in the world where you have 192 nations in such a tiny spot, and you ca get access to the government, to the regulator, to the European institutions so quickly, and that's fantastic business wise.”
THE EUROZONE'S LEADING INTERNATIONAL PRIVATE BANKING CENTRE
As a result, Julius Baer Luxembourg has become a centre of excellence for wealth management and innovation within the group.
“The Luxembourg environment gives us more opportunities, in particular when it comes to the international mindset and the structuring of private assets. Usually, wealthy individuals do not look for “plain vanilla” solutions - it's usually about structuring their wealth, due to perhaps the assets being held in different jurisdictions throughout the globe, or invested in various asset classes. The Luxembourg structures and vehicles enable us to create bespoke solutions for wealthy individuals no matter where they are.”
The bank benefits from access to the services of a complete financial centre ecosystem that includes essential market infrastructures,such as the Luxembourg Stock Exchange and post-trade service providers.
“The time to market is crucial if you have a good idea or a client that has a specific request where you need to involve the regulator, a law firm and a tax advisor. Here the law companies and advisory businesses in Luxembourg kick in,” adds German national Fischer who recently moved back to Luxembourg after a three-year stint in London.
“Luxembourg is an easy place to live, and I enjoy the international environment. I like to have conversations with people from different nationalities, and I like to watch my kids grow up in a multilingual and international place like Luxembourg,” he concludes with a smile.
“The Luxembourg environment gives us more opportunities, in particular when it comes to the international mindset and the structuring of private assets.”