The Official Spanish Chamber of Commerce in Belgium and Luxembourg singles out Cecabank as a leader in depository services in an article on Luxembourg's positioning as the main European hub for investment funds and a world leader in this industry's cross-border distribution.
Luxembourg has cemented its position as a world leader in the cross-border distribution of investment funds with assets worth €26.65 billion held by Spanish and Andorran firms as of May 2023 spread across 52 groups. The upward trend is continuing and 14% of the funds brought to market in the last five years have been launched under a Luxembourg ISIN.
Luxembourg provides a tax efficient and flexible structure for setting up financial products underpinned by a stable legal framework. This regulatory environment enables investment funds to expand their investor base, access institutional investors and international markets and raise the profile of their funds. Luxembourg law affords a wide range of financial vehicles, from UCITS and AIFs to specialised structures in private equity, infrastructure and private debt.
Against this background, Cecabank has set up in Luxembourg with the goal of cementing its footprint in the global market, supporting its current customers in driving its investment fund business and diversifying its offering. Cecabank is a strategic partner delivering bespoke solutions meeting the needs of each institution regardless of its size, helping them to build and grow their business in a competitive environment.
In 2024, Cecabank achieved its best business figures ever in depository operations for savings and investment vehicles and the settlement and custody of securities. The volume of assets on deposit amounted to more than €255.6 billion and the total volume of assets under custody came to over €351.3 billion.
Cecabank has a robust international footprint with a network established in Europe's main financial centres and agreements with over 200 correspondent banks. Its foray into Luxembourg is the outcome of a sound strategy based on its extensive experience in global markets. The bank has close relations with official bodies, regulators and supervisors, ensuring that its service range is compliant with regulations.
Luxembourg has long shown its ability to adjust to an ever-changing global financial environment. Its success is built on its expertise in staying ahead of industry trends and forging a conducive ecosystem for innovation and growth. An operational structure in Luxembourg means access to a vibrant market with a global distribution network and an environment that makes it easy to diversify products and attract new investors.
In short, a presence in Luxembourg is a must for institutions seeking to stay at the forefront of the financial industry and seize growth opportunities in a globalised market. Luxembourg will continue to play a key role in the transformation of the financial industry in the coming years.
