“It took us about six months to put together the preparation to be comfortable here, to get the right people,” says Stefan Kraus, Managing Partner at Luther, and partner of Luther Luxembourg, on the time frame the firm had to go from blueprint to reality in Luxembourg. While those who make up the financial sector are clearly going to be important to Luther in this country, is the timing of the move not a little bit surprising? Kraus disagrees: “We’re here to help our clients with Luxembourg matters. From their feedback, we learnt that they would appreciate us having a presence here without needing to involve lawyers from elsewhere. It is a key driver for us that our existing clients would like people on the ground here.” Eric Sublon, Managing Partner of Luther Luxembourg, and specialising in corporate and financial law, was motivated to join because he foresees “an exciting new challenge. But also, I’ve always wanted to be at a law firm from the start. While Luther is a German company, the idea is that in this country it will be a Luxembourgish law firm.”

The strategy focuses on the international: “We are a member of Taxand, which is a strong driver for international business,” says Kraus, “while we already have offices in Singapore, Shanghai, Brussels and Budapest. Therefore it should not be considered just a link between Luxembourg and Germany.” Luther has had a fairly enduring link with Atoz, fellow members of Taxand, a cooperation that exists, according to Kraus, “in fields beyond legal services, primarily tax, finance and other competencies they have. This is vital in serving the financial services industry, where clients require a holistic solution.”

“We want to show that Luxembourg has a bright financial future, and that the economy is not just built on banking secrecy. Even at the current time, there are opportunities and potential for growth in many areas like private equity and fund management,” remarks Kraus, with Sublon adding “it hasn’t been easy for law firms either, but one thing that is sure is that your clients really need you. Relationships are stronger, and us being here can only help that further.” Indeed, although the firm is open for business, the focus for the time being is on their existing clients. Going forward? “I think we have a unique market position in Luxembourg,” says Kraus. “So far there are no other German law firms present here, and this helps us service our clients in Germany, particularly in matters such as asset management and the fund business. We are quite strong in Germany in these fields, as well as laws pertaining to investment taxes in Luxembourg. But we are here for a variety of reasons.”