Leveraging Luxembourg opportunities
The issue
A banking group was considering the transfer of its Luxembourg activities to various other locations. The challenge of the Luxembourg bank was to identify products and services that would complement those marketed by the group, by leveraging the opportunities that Luxembourg has to offer.
Our approach
- Review current market strategy (business activities, client segmentation, product and service offering, and pricing);
- Review the existing organisation (processes, human resources and systems) in light of best market practices;
- Re-position the bank within the group and understand the existing and potential synergies to be created;
- Provide market analysis and identify new value-added activities, products and services;
- Assess impacts of divestments and new activities from several perspectives:
- Regulatory (e.g. definition of the best legal structure to support the new activities identified)
- Tax (e.g. tax structuring opportunities)
- Operational (e.g. definition of new competences and IT requirements)
- Define a business case and action plan.
- Obtain clearance from the Luxembourg Tax Authorities on the bank’s tax positioning in the light of the new business model.
Key client benefits
Repositioning of the Luxembourg entity within the group with a new and clear mission statement, leveraging the business opportunities offered by the financial marketplace:
- Allocation of new market responsibilities
- Significant improvement of financial ratios
- Improvement of tax positioning
