Private Wealth
Attractive Services for High-Net-Worth Clients
- Tailored solutions for wealth management, succession planning, and family office services.
- Luxembourg banks and wealth managers serve clients worldwide.
Family Office Services
As part of our family office services, we assist affluent families in the structured management, coordination, and development of their overall wealth. Our goal is to take a holistic approach to financial, legal, and intergenerational issues to manage them efficiently.
To this end, we provide support with wealth transfers, foundation models, real estate investments, and private equity matters. When necessary, we leverage our network of partner banks in Luxembourg, Switzerland, Liechtenstein, and Germany, which are among the most prestigious institutions with an international focus.
Market Commentary
Global Equity Markets in Positive Territory and Looking Ahead
1. January 2026
The year 2025 demanded a great deal from capital markets while at the same time clearly demonstrating their resilience and adaptability. Political uncertainty, geopolitical tensions, and intense debates over monetary policy shaped market sentiment for much of the year. Nevertheless, real economic activity proved more robust than many had expected at the beginning of the year. For equity investors, 2025 ended positively in most regions. Given the challenging environment, this outcome was by no means a given.
From a global perspective, a constructive market environment prevailed. Major equity indices reached new record highs over the course of the year or at least came close to doing so. This performance was supported by a resilient global economy, stable corporate earnings, and a more moderate inflation dynamic. International institutions such as the International Monetary Fund and the OECD recently raised their growth forecasts slightly, thereby signaling confidence in the global economic outlook despite ongoing geopolitical risks and protectionist tendencies.
At the regional level, developments were more differentiated. While U.S. equities posted gains, they temporarily lost relative momentum compared with other regions. Europe, selected Asian markets, and emerging markets moved more clearly into investors’ focus. This trend once again highlighted the benefits of broad regional diversification. Overall, equity investments in 2025 were underpinned by a solid economic foundation and increasingly supportive financing conditions.
Looking ahead to 2026, optimism currently prevails from our perspective. A key factor is the fiscal programs that have been announced and in some cases already adopted in several major economies. These measures are likely to stimulate investment, stabilize public sector demand, and generate additional growth momentum. In the United States in particular, the political cycle is also relevant. The upcoming midterm elections are historically associated with increased fiscal activity, which can provide further support to economic growth.
At the same time, monetary conditions remain broadly investor friendly. Even if the phase of rapid interest rate cuts may be coming to an end in many regions, a restrictive policy reversal is not expected. Combined with fiscal stimulus, this creates an environment that continues to offer opportunities for equity investments. Short-term volatility and regional differences will remain a constant feature. Nonetheless, the overall conditions argue in favor of viewing equities as a core component of portfolio allocation in 2026 as well approached with prudence, discipline, and a clear focus on risk management.