Banque de Luxembourg
A Luxembourg-based private bank and wealth manager serving private clients, entrepreneurs, businesses, and investment professionals.
Last updated October 30, 2026
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Overview
Banque de Luxembourg is a private bank and wealth-management institution headquartered in Luxembourg City. Its history in the Grand Duchy dates to 1920, when Banque d’Alsace et de Lorraine opened a Luxembourg branch. The present institution grew through the later combination of that business with Banque Mathieu Frères, a Luxembourg bank founded in 1937. It is a distinct institution from Banque Internationale à Luxembourg (BIL); the two names should not be conflated. Banque de Luxembourg is part of the Crédit Mutuel Alliance Fédérale group through CIC, while BIL has a separate ownership history. The bank’s activities have evolved alongside Luxembourg’s development as a financial centre. Initially connected with business and commercial banking, it expanded its private-banking and asset-management expertise during the 1960s. The bank subsequently developed services for professional clients, including asset managers and investment-fund promoters. A significant stage in its corporate history came in 1969, when Crédit Industriel d’Alsace et de Lorraine (CIAL) became a majority shareholder in Banque Mathieu Frères. The institution adopted the Banque de Luxembourg name in 1978. In 2002, CIC acquired the remaining minority interest, making Banque de Luxembourg a wholly owned subsidiary within the group. CIC belongs to Crédit Mutuel Alliance Fédérale. Today, Banque de Luxembourg positions itself as a relationship-led, long-term partner rather than a mass-market retail bank. Its principal client groups include private individuals and families, entrepreneurs and business owners, companies, and professionals working in financial services. The bank’s five stated business lines are private banking, businesses and entrepreneurs, professional banking, asset management, and financing. Services include wealth advice and portfolio management, investment-fund-related services, banking and financing solutions for businesses, and tailored support for clients managing family or professional wealth. It also serves Belgian private clients through a presence established in 2010, including private-banking centres in Brussels and Sint-Martens-Latem. Its public positioning stresses attentive client relationships, financial solidity, responsibility, and a long-term outlook. This is particularly expressed in its approach to private wealth: the bank says it considers clients’ circumstances, objectives, and values alongside financial factors, and presents continuity across generations as part of its service proposition. Its investment approach emphasizes disciplined risk management and selecting quality investments at fair prices. The bank also promotes a transparent fee approach and responsible business conduct. The institution has associated itself with social and environmental responsibility as well as financial services. In 2023 it joined the B Corp community, reflecting a public commitment to broader stakeholder considerations. The group’s current strategic and brand narrative continues to emphasize responsible banking, local presence, and steady service for clients over time. Leadership changed in April 2026, when Livia Moretti succeeded Pierre Ahlborn as administratrice déléguée after his long tenure. The bank remains active in Luxembourg and Belgium. Its heritage, services, and ownership make it a specialized private-banking and wealth-management brand within a larger French cooperative banking group, not a standalone listed company.
History
Banque de Luxembourg’s institutional history in the Grand Duchy begins in 1920, when Banque d’Alsace et de Lorraine (BAL) opened a branch in Luxembourg City. The bank’s own historical account describes the 1920 establishment as the beginning of its presence in the country. A separate Luxembourg institution, Banque Mathieu Frères, was founded in 1937 and later became part of the lineage of the modern Banque de Luxembourg. These origins explain why the bank’s development is sometimes described through both its early branch history and its later corporate combinations. The Luxembourg business developed in a financial centre whose role and scale changed substantially over the twentieth century. In its early period, the institution served commercial and business activity. During the 1960s, it built expertise in private banking and asset management, broadening its services beyond its earlier commercial orientation. In 1969, Crédit Industriel d’Alsace et de Lorraine (CIAL) became a majority shareholder in Banque Mathieu Frères. That relationship helped consolidate the business, and in 1978 Banque Mathieu Frères adopted the Banque de Luxembourg name. The name marked the institution’s development into a dedicated Luxembourg banking brand. The bank continued to broaden its specialist financial services as Luxembourg’s financial sector expanded. Alongside private banking, it developed expertise serving asset-management professionals and investment-fund promoters. This professional-client activity complemented its work with individuals, families, and entrepreneurs. Its modern business model encompasses private banking, business and entrepreneur services, professional banking, asset management, and financing. Ownership changed again in 2002. CIC acquired the remaining minority stake in Banque de Luxembourg and became its sole owner, placing the bank within the Crédit Mutuel–CIC group. CIC is part of Crédit Mutuel Alliance Fédérale. Banque de Luxembourg therefore operates as a subsidiary within a larger French banking group; it is not the same legal or commercial institution as Banque Internationale à Luxembourg (BIL), despite the similarity of the names. The bank established a presence in Belgium in 2010, extending its private-banking activity beyond Luxembourg. Its Belgian business serves clients through private-banking centres in Brussels and Sint-Martens-Latem. The bank continues to describe Luxembourg and Belgium as core markets, while its services may support clients with wider international financial needs. In 2020, Banque de Luxembourg marked a century of activity in the Grand Duchy. Its anniversary material framed its history as closely connected with the growth of Luxembourg’s financial centre, and highlighted the way its business changed with that centre: from business and merchant banking, to private banking and asset management, and later to professional services for investment firms and fund promoters. The bank’s more recent public identity has placed increasing emphasis on responsible conduct and long-term stakeholder relationships. In 2023 it joined the B Corp community, presenting the step as confirmation of its corporate-responsibility approach. The bank’s public descriptions emphasize attentiveness, solidity, accountability, and agility, alongside a commitment to disciplined risk management and transparent client fees. A leadership transition took place in 2026. Pierre Ahlborn, who had spent 38 years at the bank and served as administrateur délégué for 26 years, retired from the role. Livia Moretti succeeded him, taking up the position on 16 April 2026. The transition represents a change in executive leadership while the bank continues its existing focus on private clients, entrepreneurs, businesses, financial professionals, and wealth management.
- 2026
Livia Moretti becomes administratrice déléguée
[3]Livia Moretti succeeded Pierre Ahlborn in the bank’s senior executive role, taking up the position on 16 April.
- 2023
Joins the B Corp community
[1]Banque de Luxembourg announced its membership in the B Corp community as part of its responsibility commitments.
- 2020
Centenary of activity in Luxembourg
[2]The bank marked 100 years since the opening of its Luxembourg presence in 1920.
- 2010
Expansion into Belgium
[1]The bank established a Belgian presence and developed private-banking services through centres in Brussels and Sint-Martens-Latem.
- 2002
CIC becomes sole owner
[1]CIC acquired the remaining minority interest, making Banque de Luxembourg a wholly owned subsidiary within the CIC group.
- 1978
Banque de Luxembourg name adopted
[1]Banque Mathieu Frères changed its name to Banque de Luxembourg.
- 1969
CIAL becomes a majority shareholder
[1]Crédit Industriel d’Alsace et de Lorraine became a majority shareholder in Banque Mathieu Frères.
- 1960
Private banking and asset management expand
[2]The bank developed private-banking and asset-management expertise alongside its business and commercial activities.
- 1937
Banque Mathieu Frères is founded
[1]Banque Mathieu Frères was established in Luxembourg and later became part of the corporate lineage of Banque de Luxembourg.
- 1920
Luxembourg presence begins
[1]Banque d’Alsace et de Lorraine opened a branch in Luxembourg City, establishing the bank’s presence in the Grand Duchy.
Products and positioning
A relationship-oriented private bank and wealth manager emphasizing attentive service, long-term client relationships, financial solidity, responsible conduct, and tailored support for families, entrepreneurs, businesses, and investment professionals.
Private banking and wealth management
Private banking
Personalized banking and wealth-management support for private clients, families, and entrepreneurs. The bank describes its approach as long-term and attentive, taking account of clients’ financial objectives, circumstances, and plans for wealth across generations. Services are presented as tailored rather than standardized mass-market retail banking.
Business banking
Businesses and entrepreneurs
Banking and financing support for companies, entrepreneurs, and business owners. This business line builds on the institution’s commercial-banking heritage and is designed to support business activity and client projects through banking relationships and financing solutions.
Professional financial services
Professional banking
Specialist services for professional clients in the financial sector, including asset-management professionals and investment-fund promoters. The bank developed this expertise as Luxembourg’s investment-fund and asset-management industries grew, complementing its private-banking and business-client activities.
Investment management
Asset management
Investment and portfolio-management expertise offered as part of the bank’s broader wealth-management and professional-services activities. The bank describes its investment process as disciplined, risk-aware, and focused on selecting quality investments at fair prices.
Lending and financing
Financing
Financing solutions for clients including businesses, entrepreneurs, and private-banking customers. The bank lists financing as one of its principal business lines; specific product terms depend on client circumstances and the applicable offering.
Marketing campaigns
- 2023B Corp certification and responsible-banking positioning
Luxembourg
Banque de Luxembourg joined the B Corp community and presented the move as confirmation of its commitment to responsible conduct and consideration of its stakeholders.
Outcome. The bank publicly associated its corporate-responsibility strategy with B Corp membership. The cited material does not quantify business or financial outcomes.
Brand decisions
2026
Executive leadership passes from Pierre Ahlborn to Livia MorettiOtherBackground
Pierre Ahlborn announced his retirement after 38 years at the bank, including 26 years as administrateur délégué.
Action taken
Livia Moretti took up the position of administratrice déléguée on 16 April 2026.
Aftermath
The bank described the transition as a continuation of its long-term client and business approach.
2023
Commitment to B Corp communityStrategyBackground
The bank linked its public responsibility strategy to a wider consideration of stakeholders and the effects of business decisions.
Action taken
Banque de Luxembourg joined the B Corp community.
Aftermath
The bank incorporated B Corp membership into its public account of its corporate-responsibility commitments.
2010
Expansion into BelgiumStrategyBackground
The bank sought to extend its private-banking activity beyond Luxembourg while maintaining a specialist, relationship-based model.
Action taken
Banque de Luxembourg established a presence in Belgium and developed client services through private-banking centres in Brussels and Sint-Martens-Latem.
Aftermath
Belgium became the bank’s principal market outside Luxembourg.
2002
CIC acquires the remaining stake in Banque de LuxembourgM&ABackground
CIC already held the bank through its predecessor ownership structure, with a minority interest remaining before the transaction.
Action taken
CIC acquired the remaining minority interest and became the bank’s sole owner.
Aftermath
Banque de Luxembourg became a wholly owned subsidiary in the CIC group, which is part of Crédit Mutuel Alliance Fédérale.
1969
CIAL takes a majority stake in Banque Mathieu FrèresM&ABackground
Banque Mathieu Frères was a Luxembourg bank that later became part of the present Banque de Luxembourg. CIAL’s investment was a significant step in the consolidation of the business.
Action taken
CIAL became a majority shareholder in Banque Mathieu Frères.
Aftermath
The bank adopted the Banque de Luxembourg name in 1978 and subsequently became part of the CIC group.
Recent events
- 2026
Livia Moretti succeeds Pierre Ahlborn as managing director[3]
Leadership change
Livia Moretti took up the position of administratrice déléguée on 16 April 2026, succeeding Pierre Ahlborn, who retired after 38 years at the bank, including 26 years in the senior executive role.
- 2023
Banque de Luxembourg joins the B Corp community[1]
Other
The bank announced its entry into the B Corp community as part of its stated commitment to corporate responsibility and the effects of its business on stakeholders.
- 2023
CSSF warns about fraudulent use of Banque de Luxembourg’s name[6]
Other
The Luxembourg financial regulator published a warning concerning fraudulent activities by people misusing the bank’s name. The warning concerns impersonation and does not establish wrongdoing by Banque de Luxembourg.
Sources6 sources
- 1About Banque de Luxembourg: business lines and historybanquedeluxembourg.com
- 2Banque de Luxembourg: A Century-Old Bankbanquedeluxembourg.com
- 32026 portrait and executive transitionbanquedeluxembourg.com
- 4A new leadership chapter for Banque de Luxembourg in 2026banquedeluxembourg.com
- 5Crédit Mutuel Alliance Fédérale shareholder profilebanquedeluxembourg.com
- 6CSSF Newsletter 279cssf.lu
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