Confirmation of the relocation came during the presentation of the bank’s annual results to members of the press on Tuesday morning.
Currently situated adjacent to the National Library, the existing Deutsche Bank building in Kirchberg has been a fixture for three decades. The bank’s operations in Luxembourg span over 50 years.
Designed by Professor Gottfried Böhm, renowned for his expertise in sacred architecture, the Kirchberg building boasts exceptional acoustics. While iconic and recognisable, the decision to move stems from the need for a more modern facility to accommodate the bank’s growth trajectory.
Furthermore, with 65% of the 2023 staff comprising cross-border workers, primarily from Germany, the relocation to Findel aims to significantly reduce commuting times. Upon the expiration of the lease in Kirchberg, Deutsche Bank will establish its new base next to the airport terminal in the Skypark Business Centre, occupying the rightmost section of the building.
The transition underscores the bank’s commitment to Luxembourg as a strategic hub. While acknowledging the importance of remote work for competitiveness, Deutsche Bank underscores the necessity of striking a balance to provide employees with a conducive on-site working environment as well.
In a robust financial report for the fiscal year 2023, Deutsche Bank Luxembourg witnessed a 56% surge in net profit, soaring to €291 million. CEO Frank Rückbrodt underscored the pivotal challenge lying ahead:
“I believe that a crucial aspect for our future lies in maintaining attractiveness. Ensuring the allure of our location and attracting young talent will be paramount not only for Luxembourg but also for other financial hubs. It’s imperative that we spearhead initiatives to engage talent early on, be it through vocational education, universities, or outreach efforts spanning Europe and beyond. Additionally, creating an environment conducive to the swift integration and settlement of new colleagues is imperative.”
Rückbrodt emphasised the significance of expanding the existing expertise pool in Luxembourg. Housing prices would be an issue in all major cities, with Rückbrodt stressing the importance of cultivating a supportive work environment in this context. The forthcoming modern facility in Findel is poised to bolster this endeavour.
The message conveyed during the press briefing was unequivocal: Deutsche Bank remains steadfast in its optimism for Luxembourg as a strategic hub for growth.
