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
IQM Announces Novel Quantum Error Correction Approach Toward Fault-Tolerant Quantum Computing9.6.2026 10:00:00 EEST | Press release
IQM Quantum Computers, the global leader in superconducting quantum computers, has developed a novel quantum error-correcting code that achieves up to three orders of magnitude lower logical error rates than the surface code, also requiring up to eight times fewer physical qubits. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260609533201/en/ IQM´s breakthrough technology, called barbell codes. Unlike many alternative high-performance quantum error-correction approaches, the new code also maintains a comparatively low hardware complexity, marking a significant advancement toward scalable fault-tolerant quantum computing. Quantum error correction remains one of the defining challenges in the race toward practical quantum computing. Errors introduced by noise must be corrected faster than they accumulate, a requirement that previous approaches demanded either complex hardware or significant performance trade-offs, which IQM's
Longpoint Expands into Germany and the Netherlands, Targeting €400 Million of Infill Logistics Investment9.6.2026 10:00:00 EEST | Press release
Longpoint Partners today announced its expansion into Germany and the Netherlands, extending its infill industrial strategy into two of Europe’s most supply-constrained logistics markets. The firm is establishing a presence in high-demand locations, including Düsseldorf, Frankfurt, and the Randstad, and plans to deploy approximately €400 million into logistics assets near major population centers and transportation corridors. “We are excited to expand Longpoint’s infill industrial strategy into Germany and the Netherlands,” said Dwight Angelini, Founding and Managing Partner of Longpoint Partners. “These are highly attractive logistics markets with strong fundamentals, limited supply, and a clear need for high-quality light industrial and logistics space. With Gijs and Benedict leading our local efforts, we have the market knowledge, relationships, and discipline to identify attractive opportunities and execute with conviction.” The expansion extends Longpoint’s focus on infill logisti
ISO/TC 251 Recognizes Ampowr as the Only BESS Operator With a Fully Integrated ISO Stack9.6.2026 10:00:00 EEST | Press release
ISO/TC 251, the international technical committee that authors the ISO 55000 family of asset management standards, has published a case study profiling Ampowr's integrated certification methodology. Authored by NEN, the Dutch national standards body, the study is now publicly available in the ISO/TC 251 case studies library alongside profiles of Rijkswaterstaat, the US Army Corps of Engineers, Novo Nordisk, and Veolia. ISO/TC 251 approached Ampowr directly. NEN subsequently conducted an in-depth interview with Executive Director Andrew Elwell, examining how Ampowr operates its five certifications (ISO 9001, ISO 14001, ISO 45001, ISO 27001 and ISO 55001), as a single integrated system rather than separate compliance silos. "To our knowledge we are the only provider globally with this complete value stack visible in the market," said Andrew Elwell, Executive Director of Ampowr. "We have actively sought a peer that holds BESS hardware, energy management software, energy trading and asset
Estonia Raises the Bar for Secure Digital Identity in Europe With New eID Cards Developed With Thales9.6.2026 10:00:00 EEST | Press release
With increasing cyber risks and the rapid evolution of digital public services, Estonia is reinforcing the security, durability and adaptability of the documents that underpin its digital society: identity cards, residence permit cards, e-resident digital identity cards, diplomatic identity cards, certificates of AIP (Applicant for International Protection). Backed by Thales’ decades of expertise in secure identity technologies, the new programme introduces stronger protection against fraud, upgraded electronic features and the ability to respond quickly to emerging cybersecurity threats. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260608624209/en/ © Reelika Riimand - Estonian Police and Border Guard Board At the heart of the programme is Estonia’s new national eID card, designed by Thales to blend strong physical protectionwith robust digital security. Its materials, visual features and advanced security techniques make
Bial Reports Topline Results From ACTIVATE Phase 2b Study in GBA‑Associated Parkinson’s9.6.2026 09:00:00 EEST | Press release
Bial, an innovation-driven biopharmaceutical company focused on neurosciences and rare diseases, announced today that the Phase 2b ACTIVATE study of BIA 28-6156 (pariceract) in patients with Parkinson’s who have a pathogenic variant in the GBA1 gene (GBA-PD) did not meet its primary, nor the key secondary efficacy endpoints, meaning that BIA 28-6156 failed to slow the progression of GBA-PD versus placebo. BIA 28-6156 proved to be generally well tolerated in the study, with no unexpected safety concerns arising. While the study data provide valuable scientific information and contribute to a broader understanding of Parkinson’s biology, BIA 28-6156 did not demonstrate significant differentiation from placebo on the primary or key secondary endpoints measured. Based on the lack of demonstrated efficacy in this study, Bial has made the decision to discontinue further development of BIA 28-6156 for this indication. “We are disappointed with the outcome of the Phase 2b ACTIVATE study, as th
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