1951–1971: European construction and the spirit of partnership

To support its growth, in 1954 CIAL Luxembourg began constructing a modern building in the city centre, at 103 Grand-Rue. The new building was officially opened two years later in the presence of Pierre Werner, Luxembourg’s Finance Minister, Jean Wenger-Valentin, chairman of CIAL, and Marcel Reckinger, CEO of CIAL Luxembourg.

CIAL Luxembourg quickly turned its attention to an international clientèle, while Banque Mathieu Frères started building up its portfolio of Belgian and French clients. In 1967, following the death of Marcel Reckinger, CIAL’s joint management was entrusted to his son Robert and to Pierre Birckel.

Two banks merge

In 1969, as the eurobond market was starting to expand and foreign banks began opening branches in Luxembourg on a huge scale, CIAL became a shareholder in Banque Mathieu Frères with a 30.2% stake. The closer links between the two companies helped to boost business at the future Banque de Luxembourg.

In 1971, not long after the 50th anniversary of CIAL Luxembourg (1970) and the death of Marie-Eugène Mathieu, and under the chairmanship of Emile Spielrein, chairman of CIAL Strasbourg, CIAL increased its stake in Banque Mathieu Frères to 100%, thus making Luxembourg’s private banking expertise a full partner in CIAL’s growth momentum.

The Bank’s ability to forge partnerships has continued ever since.