Growth in AUM contrasted by profit margins under pressure
Today, the Private Banking Group, Luxembourg, presented the results of its 2019 Luxembourg Private Banking Survey, conducted in collaboration with CSSF.
Key findings include:
- steady growth in AUM
- growth in the ultra high-net-worth segment
- a continued focus on European markets
Evolution of Wealth Bands in terms of assets (2014-2018)
The survey identifies a number of challenges and opportunities, such as a decrease in profitability, the cost of regulation, market consolidation and the consequences of Brexit.
Readers are referred to the joint PBGL & KPMG study regarding the impact and opportunities of digitalisation with regards to the Luxembourg private banking sector.
AML & CFT as well as digitalisation and training represent additional priorities for the Luxembourg private banking sector. For additional information, please consult the press release under downloadable files below.