Professionals of the Financial Sector (PSF) in Luxembourg

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Professionals of the Financial Sector (PSF) in Luxembourg

2019 - Outlook and future of a sector in remodeling

The Luxembourg financial centre reasserts its leading role in the global financial sector each year. The country's reputation for its quality services among clients coming to Luxembourg is built on the expertise and know-how of its Professionals of the Financial Sector (PSF).

Outlook and future of a sector in remodeling

The Luxembourg financial centre reasserts its leading role in the global financial sector each year. The country's reputation for its quality services among clients coming to Luxembourg is built on the expertise and know-how of its Professionals of the Financial Sector (PSF).

The Professionals of the Financial Sector industry (PSF) in Luxembourg numbered 280 entities at year-end 2018, compared to 289 a year earlier. In terms of jobs, the sector has employed more than 15,000 people over the past years and this number has continuously increased to represent more than 17,000 in June 2019. The PSF market displays definite robustness, with an increase in employment, despite the slight decrease in the number of entities in recent years.

Competitiveness is inherent in all markets. In a regulatory and technological environment that is constantly evolving, not to say undergoing revolution, it is important that PSF focus on their core business and adapt to the needs and changes of tomorrow. We are observing an ongoing remodeling of some organizations' licenses, reflecting a better understanding of licensing requirements according to the services provided and, in some areas, a quest for synergy resulting particularly in a concentration of players and a new range of service offerings. Through our detailed analysis of the PSF market, we present the key trends and changes in this industry in an ever-changing environment.
Integrating the latest PSF figures plus explanations, our report analyses changes in PSF and demonstrates their dynamic nature. It features interviews with key people from the financial centre and articles on topical issues, written by industry-dedicated professionals.

The report provides an overview of PSF and illustrates the existing types and their developments. It confirms the industry's importance in the Luxembourg economy.

Following the numerous and significant regulatory developments that have occurred in the past years, players in the industry have had to (and continue to) familiarize themselves with all these topics, and make the necessary adjustments to comply with the new requirements and in some areas have to reimagine their service offer and their business delivery model.

Outlook and future of a sector in remodeling
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