2000 – 2020: Financial crisis and new service model

In 2000 Robert Reckinger handed over the reins to Pierre Ahlborn, who was appointed Administrateur Délégué. The handover breathed new energy into the banking institution as it headed towards the 21st century. For Banque de Luxembourg it was the opportunity to take a fresh approach by simultaneously developing its five areas of expertise: private banking, asset management, services to businesses & entrepreneurs, professional banking, and loans and credits.

The quality of Banque de Luxembourg’s services impressed the local Luxembourg clientele, whose wealth had increased significantly over the past two generations. In 2005 BLI – Banque de Luxembourg Investments was established to bring together the Bank’s analytical and management expertise. Today the company wins regular awards for its management quality and performance. Banque de Luxembourg’s cautious approach and adaptability meant it was able to protect its clients from the impact of the financial crisis while supporting them through regulatory changes, including the end of tax secrecy.

Strengthening our core business

2010 heralded the start of a new decade of change. In 2011, Banque de Luxembourg expanded its head office at Boulevard Royal and relocated its entire sales force to the new building. In the same year, the Bank opened a new branch in Belgium, which would eventually become its second biggest market.
As part of this impetus, the Bank acquired the private banking business of HSH Nordbank Private Banking SA in 2011, Lloyds TSB Bank plc Luxembourg in 2012 and Banque LBLux SA in 2013, further bolstering its position as a leading private banking institution.