UK lender Lloyds opens new wholesale banking office in Luxembourg

UK lender Lloyds has opened a Luxembourg office, expanding its wholesale banking operations into Europe’s largest fund domicile, the bank said on Tuesday.

“The new office will provide core lending and financing solutions to serve our market-leading CIB offering to financial sponsors and related fund structures that are headquartered or domiciled in Luxembourg. It will also offer core banking services, including lending and trade finance,” the bank said in a press release.

“Luxembourg is a critical international financial centre and home to many clients that operate complex, cross-border structures,” said Julienne Daglish, CEO of Lloyds Bank Corporate Markets Luxembourg. “Establishing a presence here allows us to support clients locally, while connecting them to our wider international network.”

Lloyds Bank Corporate Markets, the wholesale arm of Lloyds Banking Group, has its registered office at 6 Rue Jean Monnet, L-2180 Luxembourg, according to the Luxembourg business register.

Lloyds did not respond to questions about the number of employees at its Luxembourg office.

The Luxembourg outfit of the UK lender received a CSSF banking license on 5 January, according to the CSSF database.