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In order to gain a better understanding of the Depositary and Custodian Banking sector in Luxembourg, the Association des Banques et Banquiers Luxembourg (ABBL) has launched a first national survey on these industries in collaboration with the Commission de Surveillance du Secteur Financier (CSSF). The study sheds a light on two professions which many people are unfamiliar with. Its results, which concern the 2021 figures, highlight the good health of these trades.
Two different kinds of businesses
"Often seen as a single business, sometimes carried out by the same players, depository and custodian banking nevertheless deal with different clients and are subject to different obligations", explains David Claus, Chair of the ABBL's...
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