*See press release.
As part of its strategy to expand into the European Union (EU), Union Bancaire Privée (UBP) is making its Luxembourg office the Group’s European hub. On 25 January 2019, Union Bancaire Privée (Europe) S.A. acquired Banque Carnegie Luxembourg S.A. (BCL)*. Established in Luxembourg since 1976, BCL was a subsidiary of Carnegie Investment Bank offering international private banking services to Nordic clients.
With its tight banking supervision and great economic and political stability, Luxembourg offers strict respect for privacy and attractive tax rates and conditions. This makes it a leader in financial activities, being the biggest private banking centre in the Eurozone and the second-largest in the world for investment funds. Furthermore, the credit rating for Luxembourg stands at AAA, the highest level among the three major credit agencies (S&P, Moody’s and Fitch).
UBP has been active in Luxembourg since 1969 and now operates there through its subsidiary Union Bancaire Privée (Europe) S.A. The subsidiary holds a full licence to conduct banking activities in the EU, giving it freedom to provide services in every Member State. This allows our experts to serve their clients both at home, in any EU country, and from the headquarters in Luxembourg.
UBP Luxembourg is subject to the oversight of Luxembourg’s financial regulator, the CSSF (Commission de Surveillance du Secteur Financier) and fulfils the requirements set out in the Markets in Financial Instruments Directive.
Union Bancaire Privée (Europe) S.A. Luxembourg is a member of Luxembourg’s asset-protection schemes, the Fonds de Garantie des Dépôts Luxembourg (FGDL), and the Système d’Indemnisation des Investisseurs Luxembourg (SIIL). The subsidiary is fully owned by the parent company, Union Bancaire Privée, UBP SA, based in Geneva, Switzerland.
Today, Union Bancaire Privée (Europe) S.A. has more than 30 members of staff and specialises in wealth management.
Our experts offer a first-class, tailor-made service to High Net Worth Individuals (HNWI) as well as financial advisers, with the purpose of growing, protecting, and optimising the different components of their capital.
Union Bancaire Privée (Europe) S.A.
287-289, route d'Arlon
PO box 79
2010 Luxembourg, Luxembourg
Tel: +352 228 0071
*See press release.