Luxembourg Says 50 Firms Have Chosen Grand Duchy in Brexit Moves

Luxembourg said it is “very pleased” that about 50 asset managers, insurers, and other financial firms have looked to the Grand Duchy as a foothold in the European Union once the U.K. leaves the bloc.

“We are very pleased with what has happened in terms of asset managers, insurance companies, fin-tech companies,” Luxembourg Finance Minister Pierre Gramegna said Tuesday in an interview with Maria Tadeo on Bloomberg Television in Brussels. “Quite a few have chosen Luxembourg.”