As we enter the final quarter of 2018, the ominous Brexit date looms ever closer.
Whilst Asset Managers and investment houses start working out various scenarios on the outcome of a “No-Deal-Hard-Brexit”, one of the common themes is that real estate within Luxembourg is, and will continue to be, a valuable commodity and operations are all already setting up and transitioning to Luxembourg. Around 5000 investment professionals already work in the area and this trend will continue as the date edges ever closer. Many are putting contingency plans in place on the outcome of a hard Brexit.
Luxembourg has been a finance hub for several years with many of the large third-party administrators and transfer agencies already having a large presence within the area. Luxembourg is currently neck and neck with Dublin as the go-to alternative hub and the rise in jobs have been increasing at a pace to meet the demand expected. Mostly middle office, risk and compliance roles but the need and the appetite will continue.
Luxembourg is a beautiful place with excellent links to main land Europe and the UK, but factors will have to be considered before making the leap – rental accommodations, tax and currency fluctuations will all have to be reviewed prior to making the leap.
The demand for talent will be fierce and competitive but these roles will get filled.
The lure is well and truly taken, regardless of the outcome of Brexit the movement has started.
If you are considering moving to Luxembourg as a business or a candidate do reach out to make sure you are prepared and very informed.
I specialise within the Buyside and would be happy to discuss the variables of a move to Luxembourg as a candidate or a client – Stephen.firstname.lastname@example.org