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The financial crisis has caused a lot of collateral damage to large parts of the international economic system. Even though the outlook is bleak, there are some rays of sunshine. The trust and fiduciary sector is one of them. There is a lot of consolidation going on in this dynamic industry and an increasing demand for its services, says PwC Luxembourg.
The trust and fiduciary industry is a very fragmented one. If you look at the Luxembourg market, you have the two biggest players, SGG and Alter Domus, and then you have ten middle-sized international companies, followed by a lot of medium-and small-sized companies, Mikael Vercauteren, Director, Corporate Finance at PwC Luxembourg, explains. The trust business is by nature international; a client may...
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