1972 – 1987: Oil crises and diversification

In the aftermath of the first oil crisis, a period of change and transformation began.

In this uncertain climate, business teams partnered even more closely with clients to protect their interests. In 1977, as private banking became increasingly international, especially with German clients, CIAL invited Deutsche Bank, with whom it had historical links, to take a minority stake in Banque Mathieu Frères, which at that point changed its name to Banque de Luxembourg.

Developing additional services

As investment funds continued to take off in Luxembourg, Banque de Luxembourg launched a professional banking business alongside its private banking business.

The early 1980s proved a difficult period economically. In 1981 the French government decided to nationalise its banks, and CIC and CIAL found themselves in the firing line. Compagnie Financière de Gestion (CFG) was therefore established to meet the demand of an affluent client base with sophisticated needs, and it soon became one of the pioneers of family office business in Luxembourg.

Such client focus proved its worth, and both business and trust grew quickly.