Insights / 12 July 2021

Spotlight on Luxembourg

Spotlight on Luxembourg

After a decade of considerable evolution in the investment funds space, Luxembourg continues to innovate to stay ahead of the game.

Having recently celebrated ten years of our Luxembourg office, Crestbridge is proud to have been a part of the jurisdiction’s evolution to become a leading European centre for alternative funds. Over the last decade it has grown from being a predominantly UCITS jurisdiction to being a leading European centre for alternative funds, and it’s focus on the development of strong governance frameworks has helped build Luxembourg’s reputation as a risk management hub.

Looking to the future there are undoubtedly significant opportunities for Luxembourg, including the continued prevalence of alternatives, growing regulatory opportunities and the increasing focus on ESG frameworks. It remains a key jurisdiction for Crestbridge in our strategy for future growth as we look to expand our proposition to keep pace with future industry trends and innovations. Luxembourg is in a strong position as the largest global hub for cross-border funds with well over EUR5 trillion in AUM originating from all over the globe and with a good track record in adapting, its well placed to anticipate future market changes, attract the best talent and continue its evolution as a leading innovative finance hub.

As part of our commitment to the jurisdiction, Crestbridge’s team in Luxembourg continues to grow and we have recently bolstered our management team further with the appointment of a new Director and Head of Fund Services for Luxembourg; Ross Thomson, who joins us from his previous role as COO for Carne Global Funds Managers where he was responsible for both the ManCo and AIFM.  

We asked Ross about his new role and his ambitions for Crestbridge in Luxembourg:

“My role at Crestbridge gives me a fantastic opportunity to take an already strong brand and grow it even further in the Luxembourg market-place. Together with the expert team already established, we plan to improve on our current position, enhance our service proposition and continue to develop the “Client experience” through the combination of professional expertise and leading technology that Crestbridge is increasingly known for. 

Having worked in the fund governance space for the last eight years, I’ve been fortunate to work with a large number of leading fund administration firms, however despite their individual and diverse USPs, Crestbridge consistently stood out for its ability to deliver large scale and often complex solutions whilst simultaneously maintaining an agile and bespoke client experience. Delivering exceptional client service and understanding investors’ needs beyond financial performance alone is at the core of Crestbridge’s growth ambitions and I’m delighted to be a part of the team.

Having received our funds licence 18 months ago there is tremendous opportunity to increase this part of our business in Luxembourg and I will be ensuring a solid foundation of the right people in the right roles, and the right technology to make sure that our clients remain our number one focus while we enhance and add to our service capabilities. With PE and VC expanding their leading position within the alternatives space Crestbridge’s strong history and expertise along with continued investment into PE fund services and Luxembourg will allow the local business to take advantage of these and other evolving market trends and to go from strength to strength.”   

Ross brings with him over 20 years’ experience to Crestbridge and in addition to his ManCo and AIFM expertise he also has considerable experience in both back and middle office roles across UCITS and AIFMD structured funds.