Citigroup has opened Citigroup Global Markets Luxembourg S..r.l. in the Grand Duchy, offering a range of services including securities lending to clients within Luxembourg and Europe.
Citigroup Global Markets Luxembourg was granted a license by the Commission de Surveillance du Secteur Financier (CSSF, the Luxembourg regulator) and is regulated as a professional carrying out securities lending (“professionnel effectuant du prt de titres”).
“Luxembourg is a stable political and financial environment with a robust and respected regulatory regime and is currently the second-largest investment fund center globally, says Charles Denotte, Citi country officer in Luxembourg. An ability to access these funds from Luxembourg will give Citi a strong competitive advantage amongst its peers and will help us to further grow our Luxembourg franchise.”
The establishment of dedicated capital markets legal entity in Luxembourg is a key step for Citigroup as we continue to expand our business, and the depth of our product and service offerings, says Nick Roe, global head of Citi Prime Finance. In addition, it reinforces the commitment Citigroup has to growing its franchise in Luxembourg, and ensures that we are uniquely positioned to offer clients an integrated execution, prime brokerage, securities financing, fund administration and custody platform.
Citigroup has had a presence in Luxembourg since 1970, providing global transaction services, global relationship banking and funds industry services, and currently employs 240 people.
(CG)