Brown Brothers Harriman (BBH) announced this week its recognition of 20 years in Luxembourg. With approximately 400 employees, the Luxembourg office is currently BBHs largest location outside the United States.
In the late 1980s, Luxembourgs early adoption of the European Directive for Undertakings for Collective Investment in Transferable Securities (UCITS) and the opportunities it presented to BBHs clients prompted the formation of a Luxembourg subsidiary. Over the past two decades, the Luxembourg offices clients – primarily investment managers and financial institutions – have increasingly sought to diversify and expand their portfolios in order to benefit from the advantages that Luxembourg and its central location in Europe presents them.
BBHs experience in Luxembourg is concurrent with the continued success of the Grand Duchy as an investment domicile, says Geoffrey Cook, partner and managing director of the Luxembourg Office, BBH. He notes, As the Luxembourg financial industry has grown, so have our clients in terms of numbers and scope of activities, and we are now servicing approximately USD400billion in assets. Our success is also a factor of our highly qualified staff and Im proud of the dedication and expertise they bring to our clients every day.
L.D.