Pierre Weimerskirch (APEX): The Grand Duchy as a Super Jurisdiction
In 2019, Pierre Weimerskirch sold LIS to Sanne. Four years and several acquisitions by APEX later, he is taking the lead of a group encompassing seven entities and 1,200 Luxembourg employees, with undiminished enthusiasm.
Why is the Grand-Duchy a super jurisdiction for Apex Group?
Firstly, Luxembourg is important for Apex Group as it ranks second globally as a financial hub for investment funds and holds the top position in Europe. We serve the asset management industry from Luxembourg through multiple entities, employing 1,200 people with $500 billion in assets under management. Unlike our direct competitors, we have a bank, and unlike banking competitors, we offer ManCo and corporate services to a greater extent. Our Group comprises 13,000 employees providing services into 50 jurisdictions from over 100 offices, but we are the only jurisdiction offering fund admin, banking, and super ManCo services. We firmly believe in Luxembourg's continued growth and are committed to being a part of it. Our founder, Peter Hughes, has built this group in just 20 years with beliefs that foster a strong culture, highly mature ESG services, and a DE&I approach 187FINANCE at the forefront of industry standards. Apex Group is driven by a strong spirit of entrepreneurship.
“APEX is driven by a strong spirit of entrepreneurship."
©360Crossmedia/CN
What is your key focus?
I view the Apex Group from our clients’ perspective and have three main priorities: Firstly, I aim to raise awareness of the Apex brand by being more present in the global conversation. This will ensure that our clients and partners understand how we can assist them and our commitment to actively contribute to the development of the fund and financial hub. Secondly, I want to align all our entities with the same strategy and operating model. This will enable asset managers to use Apex as a singlesource solution, managing the complexity of their business and allowing them to focus on their core activities. Finally, I want to reinforce our status as an "employer of choice" by showcasing the benefits of working for a fastgrowing company with the resources to support its ambitions. In today's environment, it is essential to have substantial financial backing to fund necessary tech investments, product research, and provide motivating career development opportunities.
What opportunities do you see for the region and product offering?
On the opportunity side, I think that the Grand Duchy can reach new markets. First, by launching new services, and second, by leveraging the power of our group, which has more than 13,000 employees around the world. We could attract many more funds here from Asia and America, for example. Collectively, we need to ensure that the country remains competitive compared to other jurisdictions. We should think of Luxembourg as a highly reactive marketplace where buyers and sellers can quickly and safely close deals. As a Luxembourger, I can tell you that this has always been our nation's main competitive advantage: implementing regulations swiftly and attractively. The main challenge I identify is related to the scarcity of talent, not just cross-border but also from further away. At Apex, we have a program called “Jump” where we bring talent from other jurisdictions to Luxembourg. Apex will do its part, but we cannot succeed alone. We need the active participation of the Big Four, the government, and our competitors to ensure, for example, that work permits are issued quickly and that apartments remain affordable for young professionals. By managing this together, Luxembourg will greatly benefit from the current democratisation of alternative investments, which allows individual investors to join private equity funds. I anticipate this as the next wave of growth.
FACTS&FIGURES
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Birthday: 23/04/1964
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Place of birth: Luxembourg
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Nationality: Luxembourger
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Children: 2
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Languages: Luxembourgish, German, French, English
MY FAVOURITE
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Cities: Paris, New York City
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Places: Place des Vosges (Paris), Ocracoke (North Carolina)
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Book: Klara and the Sun, Kazuo Ishiguro
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Restaurant: Apdikt
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Music: Drake, The Weekend, Frank Ocean
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Artist: Anni Mertens
COMPANY
Apex Group
POSITION
Regional Head, Luxembourg