The Bank of London Formally Applies for European Union Banking Licence and Announces 200M Euros Investment and 300 New Jobs in Luxembourg
12.7.2023 15:44:00 EEST | Business Wire | Press release
The Bank of London today announces it has submitted its formal application for a European Union (EU) Banking Licence and commits to 200M euros investment and hiring 300 people in Luxembourg over the next five years.
The formal application has been jointly lodged with the European Central Bank and Commission de Surveillance du Secteur Financier (CSSF) in Luxembourg.
Formally establishing a base in the EU enables The Bank of London to support businesses in the world’s largest single market and trading bloc. The 200M euros investment in Luxembourg and across the wider EU will help power the bank’s EU growth and the creation of 300 new jobs including management, compliance, risk, product development and business control, technology and operations.
Commenting on The Bank of London’s choice of Luxembourg, Head of Luxembourg for Finance, Nicolas Mackel, said: “The choice by The Bank of London is an enrichment for Luxembourg's financial services ecosystem and testimony to its attractiveness for such a technology-based operator.”
Guy Hoffman, Chairman of The Bankers' Association in Luxembourg, said: “Luxembourg’s digital technology programme was specifically set up to help businesses and consumers and the potential for The Bank of London’s unique offering is enormous.”
The Bank of London, powered by its patented technologies, has a unique business model that actively protects its depositors’ funds by never lending, leveraging or investing these deposits. By choosing Luxembourg as its EU headquarters, there is an exciting opportunity to offer Luxembourg and the broader EU market a new global digital clearing ecosystem for financial institutions and corporate commercial clients.
Norbert Becker, Chairperson of the European Union region for The Bank of London, said: “This is a major milestone for our business and follows the foundation established in the UK. Luxembourg is perfectly positioned to play a key role in driving the bank’s European business forward, and ensuring Luxembourg is the centre of clearing for the EU.”
Anthony Watson, Group Chief Executive & Founder of The Bank of London, said: “Luxembourg is the logical choice for us to build out our offering across the EU, and marks the latest step in our international growth strategy and follows the successful rollout of our banking solutions across the UK.”
The Bank of London boasts Luxembourg-based Mangrove Capital Partners as one of its key shareholders.
For more information visit: thebankoflondon.com, or on Twitter and Instagram at: @thebankoflondon.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230712289844/en/
Contact information
Enquiries:
The Bank of London
Gavin Haycock
Gavin.haycock@thebankoflondon.com
+44(0) 7557 038031
Powerscourt
Siobhan McCluskey
Siobhan.McCluskey@powerscourt-group.com
+44(0) 7795 611179
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
David Hagan, Dean and Pegasus Professor at CREOL, The College of Optics and Photonics, Will Serve as Vice President of SPIE26.8.2026 06:00:00 EEST | Press release
David Hagan has been elected to serve as the 2027 Vice President of SPIE, the international society for optics and photonics. He will serve as President-Elect in 2028, and as the Society’s President in 2029. The SPIE Board of Directors is influential in the scientific community, establishing policy and strategy and conducting activities of interest to SPIE Members. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260825934622/en/ Top row, from left to right: David Hagan, Jim McNally, Mark Clampin. Bottom row, from left to right: Marla Dowell, Jana Kainerstorfer, Katie Schwertz The 2026 SPIE President, Julie Bentley, professor of optics at the University of Rochester, made the new electees announcement at the Annual General Meeting of the Society on 25 August during SPIE Optics + Photonics. Terms begin on 1 January 2027. In addition to his work at CREOL (University of Florida, USA), Hagan has been an SPIE Fellow since 2017.His
FORTÉ Acquires Vega Global, APAC's Largest Systems Integrator, Expanding Global Reach26.8.2026 04:00:00 EEST | Press release
FORTÉ, the leader in communication and collaboration solutions designed for the modern workplace, today announced its acquisition of Vega Global, APAC’s largest systems integrator and a leading provider of workplace technology and audiovisual solutions serving corporate, education, government and other market segments. With this acquisition, FORTÉ adds to its international presence, including established office locations in Hong Kong, Mainland China, India, Japan, Taiwan, Thailand, Singapore, Korea, Vietnam, Australia, Philippines, Malaysia, Macau, New Zealand, Indonesia, and United Arab Emirates. With its headquarters in Minneapolis, Minn., FORTÉ also has operations in the U.S., Ireland, Germany, Sweden, the United Kingdom, and Mexico. “Multinational organizations need strategic partners who can deliver consistent communication and collaboration experiences wherever their people work and do business,” said Jeff Stoebner, Chairman and CEO of FORTÉ. “With Vega Global now part of FORTÉ,
Access Advance Launches Exploration Phase for an AV1/AV2 Device and Software Patent Pool, Invites Participation of Potential Licensors26.8.2026 03:00:00 EEST | Press release
Access Advance LLC announced today that in conjunction with the recent release of the AV2 video codec specification, it has launched the exploratory phase for a new patent pool covering devices and software implementing the AV2 video codec, as well as its predecessor AV1. During this exploratory phase, Access Advance will engage with market participants to seek their input, including holding pool formation discussions with potential licensors to gather their feedback on the scope, structure, and terms of a prospective program. All patent owners with a good-faith belief that they own or control AV1 and/or AV2 essential patents are invited to participate in the pool formation discussions. AV1 adoption is being driven largely by members of the Alliance for Open Media (“AOM”). AOM members such as Google, Meta, and Netflix increasingly utilize AV1 to deliver video, and adoption now spans smart TVs, streaming media players, mobile devices, web browsers, and chipsets. AV2, AOM’s successor to
Lattice to Showcase Industrial FPGA Innovations at FPGAWorld Conference 202625.8.2026 23:00:00 EEST | Press release
Lattice Semiconductor (NASDAQ: LSCC), the low power programmable and platform firmware leader, today announced its exhibition plan for the upcoming FPGAWorld Conference 2026, taking place on Sept. 8, 2026, in Stockholm, Sweden. As part of the event, Lattice will deliver technical presentations and host a demo showcase focused on how its low power FPGA solutions are advancing Industrial IoT and sensor bridging applications. Who: Lattice Semiconductor What / When (GMT+2): Tuesday, Sept. 8, 2026 Lattice Demo Showcase Presentations (Track: 12:20 – 13:35, Room Brave 05) “Solving Your Power Puzzle: Lattice FPGAs’ Path to Uncompromised Low Power” “Practical Security Fundamentals for FPGA Engineers” Where: AFRY, Frösundaleden 2A, 169 70 Solna, Sweden The FPGAWorld Conference is an international forum for researchers, engineers, teachers, students, and hackers. It covers topics such as complex analog/digital/software FPGA SoC systems, FPGA/ASIC-based products, educational and industrial cases,
France Becomes First Official Participant at Expo 2030 Riyadh25.8.2026 20:40:00 EEST | Press release
France is the first country to officially sign its Participation Contract for Expo 2030 Riyadh, a major milestone in its preparations and growing international momentum. The signing took place on the sidelines of the visit to France by His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260825634516/en/ The ceremony in Paris was attended by H.H. Prince Faisal bin Farhan Al Saud, Minister of Foreign Affairs of the Kingdom of Saudi Arabia, and Dimitri S. Kerkentzes, Secretary General of the BIE. The Participation Contract was signed by Talal Al-Marri, Chief Executive Officer of Expo 2030 Riyadh, and Jacques Maire, Chairman of the Compagnie Française des Expositions (COFREX). The agreement formally establishes France’s participation in Expo 2030 Riyadh, providing the framework for its presence throughout the six-month event. It spec
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom