Total AUM of private banks in Luxembourg 2007-2023

After 13 consecutive years of increase in the total assets under management (AUM) of the private banking sector in Luxembourg, 2022 saw a slight decline in the AUM, dropping to *** billion euros. Nevertheless, the total AUM of the private banking in the country increased again, amounting to *** billion euros in 2024, the highest value during this period.

Private banking and wealth management are both financial services that are generally aimed at clients with a higher portfolio than regular customers or even high-net-worth-individuals (HNWIs). The two terms overlap, but are still slightly different from each other. Private banks, in general, do not take an active role in managing the client portfolio but instead offer a unique investment, whereas wealth management companies or independent financial advisors offer personalized portfolio strategies.