2022 report: outlook and future of a sector seizing opportunities

Robust and agile in the face of constant change

Deloitte Luxembourg’s 2022 PSF report features the industry’s key figures, trends and opportunities, demonstrating remarkable resilience in uncertain times. Its analysis and insights reaffirm the sector’s importance to the Luxembourg economy.

In 2021, PSF employed 35% of the Luxembourg financial sector’s total employees, and as of June 2022, the industry surpassed pre-pandemic levels to reach 17,120 professionals employed by 258 companies.

This rebound in the number of employees is all the more significant given the industry’s ongoing consolidation trend. The number of PSF in 2022 shrunk slightly by 0.8%, with 264 PSF including branches on 31 July 2022 compared to 266 on 31 December 2021.

This contraction is in response to market trends like digitalization and new regulations, including the Anti-Money Laundering Directive (AMLD) and the second Markets in Financial Instruments Directive (MiFID II).

The latest state of play, insights and opinions

Alongside detailed commentary and analysis of the trends shaping this ever-changing market—including sustainability, tax transparency, directors' VAT status and the EU’s Digital Operational Resilience Act—this report provides a clear view of the different PSF types and their evolution.