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Deloitte has a long history in Luxembourg. What started out in the 1950's as a small accountancy practice “l'Agence”, today is a multidisciplinary firm of more than 2,200 employees, part of a global network of more than 330,000 professionals.
Discover the evolution of Deloitte in Luxembourg by decades in the following timeline.
1950s: the origins
Messrs. Gerbes, Kioes and Schmitter, capital in hand, set about incorporating a SàRL named “l'Agence” in 1950.
In 1953, Jean Hamilius, a graduate in Business Studies, joined “l'Agence” and teamed up with René Schmitter to form ‘Hamilius & Schmitter’, Organisateurs-Conseils SeNC.
On 21 February 1959, the first-ever Luxembourg mutual fund was registered: a Fonds Commun de Placement, christened ‘FCP Eurunion’. And so began a new chapter in Luxembourg’s financial industry and a key element for our firm’s future success.
1960s: Fiduciaire Générale de Luxembourg
In this decade, ‘Hamilius & Schmitter’ and ‘Gerbes, Kioes & Cie.’ supplied the new venture with comprehensive accounting and administrative services, nurturing its onward growth with advisory and other professional services as well as introducing new business.
In April 1968, the partners merged the two firms under a single ‘multipurpose’ banner that included the entire range of services offered. And with that, ‘Fiduciaire Générale de Luxembourg’ was born.
1970s: the Big Eight
In 1978, Fiduciaire Générale de Luxembourg decided it was in the firm's interest to join a large international group. But which one? The key factors in their ultimate choice of Touche Ross, the smallest member of the Big Eight, were its size and style—which, they felt, made it unlikely to exert too much influence over Fiduciaire Générale de Luxembourg’s business.
1980s: focus on audit
The 1980s saw private banking re-emerge as a serious force in the banking industry, gradually taking over the mantle of Euro-loans to become the leading light of the financial centre.
In 1984, the Law of 28 June implemented a European Directive’s provisions and laid down an official framework for the Luxembourg auditing profession. The accounting community would look to this new legislation as a turning point in the profession’s recognition, codification and orderly development.
1990s: the growth of advisory and consulting
Deloitte & Touche Consulting was incorporated as a legal entity in 1991. The decision to house the firm's consulting business in a separate vehicle from Fiduciaire Générale Group stemmed from the substantial differences between the disciplines of consulting and accounting/auditing.
A fundamental structural reform of the Fiduciaire Générale Group was initiated in 1996 and concluded the following year. It aimed to establish a clear structure, headed by a SàRL held by the partners in Deloitte Touche Tohmatsu.
In 1999, Touche Ross Luxembourg SàRL was absorbed by Deloitte Touche Tohmatsu.
2000s: Deloitte, a multi-disciplinary business model
One word says it all: Deloitte & Touche became Deloitte.
Since 1 October 2003, our global network is recognised in the marketplace by the single brand name ‘Deloitte’. It demonstrates the cohesion of Deloitte’s proposition and our integrated approach to solving clients' problems.
In 2004, Deloitte Luxembourg moved into a new building at 560 rue de Neudorf in Luxembourg, which was equipped with the latest technology of the time.
In 2009, a new audit profession law was passed, introducing the Commission de Surveillance du Secteur Financier (CSSF) as the supervisory authority for the audit profession.
2010s: leading the way
In 2010, Deloitte took the number one position as the largest professional services organisation in the world.
In 2011, Deloitte Luxembourg held the first Horizon Conference, aiming to share cutting-edge insights into the evolution of the financial sector over the coming decade. This conference series continues to gather the who’s who of Luxembourg finance, and hosts renowned keynote speakers that include the Luxembourg finance minister.
In 2013, Deloitte Luxembourg launched its first Cross-Border Distribution Conference. This event remains an unmissable gathering for regulators, leading asset managers and experts to address key developments in both fund distribution and the wider investment management sector—both in Luxembourg and internationally.
In 2019, Deloitte Luxembourg moved more than 2,100 employees from Neudorf and Findel into a brand new office: DSquare in the Ban de Gasperich, Cloche d’Or.
2020s: turning 70s and always living our purpose
2020 saw Deloitte Luxembourg and the Global Deloitte network celebrate their respective 70th and 175th birthdays. DSquare now houses more than 2,200 professionals.