Euroclear is expanding its presence in Luxembourg by broadening the scope of its services beyond investment funds to include fixed income, bonds and collateral management.
The expansion of the ICSD’s local office further reinforces its ties with financial institutions in the Grand Duchy. The office will accommodate up to ten employees who will focus on expanding client relationships and delivering account management services.
The office is headed up by Jane Sidnell, reporting to Philippe Laurensy, director and regional head, in Brussels.
Sidnell has spent the past ten years with Luxembourg-based clients, largely to market Euroclear’s FundSettle platform and the EMX Message System.
Going forward, Sidnell, Laurensy and their commercial team will work with Euroclear’s Luxembourg client base in adapting to new regulations and preparing to work in a Target 2-Securities (T2S) post-trade environment.
Euroclear will recruit Brussels-based staff, who already handle relationships with Luxembourg-based clients, to the Luxembourg office.
A Euroclear spokesperson described Luxembourg as the logical hub for expansion given its existing ties in the investment fund space.
Pierre Yves Goemans, head of Commercial, at Euroclear commented: “Luxembourg is the largest private banking centre and second largest investment fund centre in the world, making it a logical focal point for Euroclear. The expansion of our Luxembourg office is a clear indication of our continued commitment to provide high levels of service to our clients. Jane’s understanding of the Luxembourg investment fund sector and Philippe’s broader industry knowledge and experience will prove instrumental in building a highly client-focused team in Luxembourg with the right skills to attract new business.”