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The future of the PSFs enthrals the Grand Duchy - 03/12/2012


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The Deloitte "PSF, 2012 Overview and Outlook" conference brought together more than 100 professionals

PSF conference 2012Deloitte Luxembourg’s third annual conference dedicated to the Professionals of the Financial Sector (PSF) was held on 28 November 2012, presenting a yearly analysis of the PSF on the market.

For the third time since 2010, the PSF experts at Deloitte Luxembourg compiled an annual analysis of the PSF in Luxembourg, this year focusing on the essential legal and regulatory framework of the market, the main areas of the tax environment liable to impact PSF and finally outlining a profile analysis of PSF, including individual fast-reference sheets which set out the most significant characteristics.

In addition to providing an overview of the importance of PSF to the Luxembourg economy during the conference, a round table with Serge Krancenblum, CEO of SGG, Claude Eyschen, CEO of Capital@Work, and Charles Mandica, President of the Support PSF Association and CEO of Steria PSF Luxembourg, highlighted the various perspectives, challenges and opportunities of the Luxembourg PSF as regards to the current economic, financial and political aspects.

According to Stéphane Césari, Partner and PSF Industry Leader at Deloitte Luxembourg, "Over the past few years we have seen a constant growth of the PSF sector in Luxembourg. With currently over 14,000 people employed in around 324 entities, this sector clearly marks its presence on the market.

With the analysis and brochures, we are delighted to share our understanding of the highly specific PSF environment. New prospects are emerging for the industry following notably the issue of the 12/544 circular for auxiliary PSF and the likely creation of two new licenses, “special depositary for non-banking assets” and “family offices”. We are also delighted to observe a continuous increase of the number of PSF, and a record level of total revenues for the last months is a clear evidence of the dynamism of this sector, which is playing a significant role in the Luxembourg economy.” states Raphaël Charlier, Audit Partner at Deloitte Luxembourg.

The guest speakers invited to the conference were:

  • Raoul Mulheims, CEO of Digicash, who presented a practical application of the recent law on payment services
  • Jean Claude Boutet, Partner at Intuitae Luxembourg, who presented the latest news on Family Offices

The various analyses of the PSF sector in Luxembourg presented at this event can be found on the Deloitte Luxembourg website at: http://www.deloitte.com/lu/whitepaper/psf-2012 and http://www.deloitte.com/lu/brochure/psf-2012 respectively.

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