Brexit leads to uptick in hiring in Luxembourg
By Anna Devine 14 September 2017
Brexit is leading to a hiring spree in Luxembourg, with several international fund houses currently looking to secure top talent, according to experts.
Yesterday Ignites Europe reported that M&G Investment is to create up to 30 jobs in legal, compliance and risk roles in Luxembourg.
Other asset managers are building out their operations in the Grand Duchy as firms seek to offset any potential disruption from the UK’s departure from the European Union.
Kirsty Pineger, head of wealth and asset management at BRUIN Financial, a specialist financial services recruiter, says her firm has noticed a rise in Luxembourg hiring, particularly in oversight, product related and transfer agency roles.
But she says the trend is “not necessarily” Brexit related and the hiring is not at London’s expense.
“Several clients are [hiring] additional people on the ground in Luxembourg, but to support their existing UK function,” says Ms Pinegar.
Ana Maria Tuliak, manager on the sales and marketing desk at BRUIN, adds that she has seen increased demand at most of the fund houses for sales managers and sales directors in Europe with “a specific market coverage” such as Spain, Italy, Germany, France and the French-speaking markets of Luxembourg and Switzerland.
She adds: “The salespeople covering [the] French-speaking market are usually based in France, Luxemburg or Switzerland depending on the firm’s setup.
“The higher demand for sales support and marketing headcount in Luxemburg has been driven by the need to support distribution activity in the French-speaking geographies following Brexit.”
For the full article please visit: Ignites Europe