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History & Luxembourg

Wednesday 6 October 2010, by Jimmy Laporte

The history of Luxembourg is inherently entwined with the histories of surrounding countries, peoples and ruling dynasties. Over time, Luxembourg’s ownership has changed repeatedly and its political independence has grown gradually.
In 1867 with the Treaty of London, Luxembourg gained full independence.
Since the Second World War, Luxembourg has become one of the world’s richest countries, buoyed by a booming financial services sector, political stability, and European integration. In 1952, Luxembourg was the host of the first European Institution, the European Coal and Steel and was one of the six founding countries of the European Economic Community in 1957.
Luxembourg’s financial sector is not just the largest contributor to the Luxembourg economy. It is also the agency for the development of the financial sector- the second largest investment fund centre in the world after the United States, the premier captive reinsurance market in the European Union and the premier Private Banking centre in the Eurozone.
The Luxembourg financial centre holds a competitive position at international level and offers a complete range of services to both private and institutional investors. Experienced managers assist customers with the structuring of their wealth and their investment strategies. It has been rated overtime by various indicators and surveys as the “least risky place to do business”.
Today, Private Banking represents one of the leading activities of the Luxembourg financial centre. Financial sector professionals, including banks and wealth managers, dedicate a large part of their efforts to develop and deliver individually tailored services, aimed at increasingly demanding customers who expect the highest standards of professional support.
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