Ogier Global's new CSSF Fund Administration licence and its impact

Ogier Global recently obtained a fund administration licence from the Commission de Surveillance du Secteur Financier (CSSF). In this Q&A with Valere Twagirayezu, Pascal Lambillon and Wilfried Lottin, we look at what this means for Ogier Global in Luxembourg and what makes us different in this setting.

What will this CSSF fund administration licence bring to Ogier Global in Luxembourg?

Wilfried: We are proud to have announced in mid-June that Ogier Global has obtained a fund administration licence from the Commission de Surveillance du Secteur Financier (CSSF). This significant achievement marks the culmination of a long and rigorous process, underlining our seriousness and the trust placed in us by the CSSF.

The acquisition of this licence should bring many benefits to Ogier Global. Not only does it enhance our portfolio of services, allowing us to offer a much broader range including, at last, fund administration services directly to our clients, but it also consolidates Ogier as a global solutions provider in the Luxembourg market.

Pascal: Indeed, given that we've been providing services for unregulated vehicles for almost five years now, we've noticed that customers are increasingly looking for a full-service offering, from project initiation through administration and management to liquidation where appropriate. That's why, when a structure involves an investment fund, with our colleagues at Ogier's law firm, also based in Luxembourg and part of the network, we are now able to provide this type of service.

Why has Luxembourg become a key location for fund administration for Ogier?

Valere: Luxembourg is the leading centre for fund administration on a global scale, the combination of a favourable regulatory framework, political and economic stability (Luxembourg has a Triple A rating), a qualified and multilingual workforce and a commitment to continuous development has strengthened the perception of investing in this country in the service of investment funds.

Wilfried: We are part of a multi-jurisdictional professional services firm and while we are already present as a fund administrator in certain jurisdictions such as Cayman and Hong Kong, it seemed essential to us for the reasons described above to do the same in Luxembourg, especially as Luxembourg serves as a gateway for fund distribution not only within the EU but also globally. This positioning enables us to cover requests involving structures, assets and investors from Europe, Asia or America - in short, from all over the world.

What are your main objectives and areas of expertise?

Pascal: First of all, this new offering in Luxembourg leverages our existing expertise in corporate and fiduciary services and the management of diverse unregulated entities such as management companies, special purpose vehicles, and holding companies. This enhancement will ensure that we can service all our clients' needs and contrary to what we generally see, at Ogier Global, expertise will not be limited to one field, but we will be able to provide services and advice both at the level of the funds and at the level of the underlying companies.

Wilfried: Our missions and areas of expertise would be tailored to each client and the specific context of the provision of investment funds, corporate and fiduciary services with a special emphasis on innovation, responsiveness to clients, and advisory services.

Ensuring responsiveness to clients’ needs is key for Ogier. We have noticed that since the company was established, this has been a very valuable benefit for our clients. This involves not only reactive measures, but also in-depth knowledge and a proactive commitment to anticipating clients' needs.

We are also keen to ensure excellence and that processes are efficient, scalable and customer-focused. This involves continuous improvement initiatives and the use of technology for operational efficiency. With this in mind and in order to better meet the specific needs of our clients, we have even, within Ogier Global in Luxembourg, established two sister entities, one dedicated to the specificities of non-regulated vehicles under the supervision of the OEC and one which focuses on the administration of investment funds under the CSSF.

Valere: Indeed, innovation is key at Ogier. For us there are innovative ways of delivering our services to our clients in a way that is faster and more user friendly, maximising client satisfaction. Innovation will also help us to be more efficient, reducing the risk of errors and allowing us to propose fees to our clients that are more competitive. This may involve digitisation initiatives, use of digital tools for sharing information with our clients and use of AI to improve the speed and quality of our services. These are projects we are working on and will develop further in the near future.

What are your main objectives?

Valere: Ogier Global Luxembourg will strive to become a player of choice in the Luxembourg Fund Administration market, for its quality, speed and innovation, while focusing relentlessly on maintaining compliance with laws and regulations. We will achieve that by investing in our people in new technologies, two important enablers to achieving that objective.

Establishing and maintaining partnerships with the best stakeholders in Luxembourg is another key component of our strategy. We believe that collaboration is key to providing an excellent service. By partnering with our colleagues of Ogier's law firm in Luxembourg, with major financial institutions, investment fund managers and service providers, we enhance our business model and ensure that our clients benefit from a fully integrated approach to their needs. These partnerships not only expand our service offering, but also reinforce our commitment to excellence and regulatory compliance.

Wilfried: As Valere mentioned, investment in our human resources is vital at Ogier if we are to achieve our objectives and maintain our quality of service while prioritising employee wellbeing. Recognising that our people are our greatest asset, we focus on continuous professional development, creating an environment that encourages flexibility, collaboration and excellence. Ogier Global Luxembourg attaches great importance to the well-being of its employees. We understand that the health, satisfaction and general well-being of our team members are essential to our success and to the quality of service we provide to our clients.

Finally, a strong commitment to improving innovation drives our approach to serving our clients. We aim to improve operational efficiency, reduce risk, strengthen compliance requirements and deliver solutions at the forefront by investing in technology and promoting a culture of innovation.

How would you describe what makes Ogier Global different in fund administration?

Valere: We want to be known as the fund administrator who has the following key characteristics: speed, quality and innovation. It is a framework that we have designed and are implementing, which will become our DNA. Compliance will also be a key component of our framework. 

Wilfried: And all the while prioritising the aspect of well-being for all our employees.

Ogier Global's Fund Administration services in Luxembourg

For more information about Ogier Global fund administration services in Luxembourg, please contact Valere Twagirayezu, or read our Fund Administration in Luxembourg brochure. For more information on unregulated vehicles, please contact Pacal Lambillon.

This article was first published in AGEFI Luxembourg.

About Ogier

Ogier is a professional services firm with the knowledge and expertise to handle the most demanding and complex transactions and provide expert, efficient and cost-effective services to all our clients. We regularly win awards for the quality of our client service, our work and our people.

Disclaimer

This client briefing has been prepared for clients and professional associates of Ogier. The information and expressions of opinion which it contains are not intended to be a comprehensive study or to provide legal advice and should not be treated as a substitute for specific advice concerning individual situations.

Regulatory information can be found under Legal Notice