Sector Practices
Fund Services Executive Search in Luxembourg
Leadership hires for Luxembourg fund administrators, ManCos and AIFMs
Phoenix Search runs retained executive search for fund administrators, depositaries, UCITS management companies, AIFMs and corporate services providers in Luxembourg. We have current and past searches in the Luxembourg market, and many of our clients run Luxembourg and Dublin platforms side by side, so we hire across both.
Leadership is only half of it. We also build commercial functions for Luxembourg fund and corporate services businesses: the Heads of Business Development, client and relationship directors and sales teams that win mandates and grow revenue from existing clients. We design these teams as a whole, so each hire complements the last, rather than filling seats one at a time.
Substance rules shape every senior hire. Under CSSF Circular 18/698, a Luxembourg investment fund manager needs at least two conducting officers in Luxembourg and at least three full-time staff. Above EUR 1.5 billion in assets under management, conducting officers cannot hold another conducting officer mandate. Every new ManCo or AIFM, and every one that grows past that threshold, draws on the same small pool of experienced conducting officers.
The sector has also consolidated fast. Private equity ownership, serial acquisitions and platform integrations have reshaped who owns whom, and most strong candidates are already in post, often tied in by deferred compensation or an integration they do not want to leave.
How we run a Luxembourg search
We start with the market map. Phoenix maintains a fund administration leadership register covering around 100 firms across four tiers, from global administrators to specialist providers. It tracks incumbents, leadership moves and hiring activity, so every search starts with a clear view of who holds the role you are hiring for, and who is likely to move.
We test for regulatory standing. Conducting officers and other senior roles face CSSF scrutiny of their experience and good repute. We assess candidates against those expectations before they reach your shortlist, and plan the timetable around regulatory approval.
We build commercial teams, not just single hires. For growth, a new market entry or a new product line, we hire the commercial leader first and then the business development and relationship team beneath them, benchmarking compensation so offers land at market.
We search across centres. The right candidate for a Luxembourg role may be in Luxembourg, Dublin, London or elsewhere in Europe. We search wherever the experience sits and help with the practicalities of a move.
We manage the close. Senior people in this sector carry real cost to move. We deal with buyouts, notice and timing early, so an accepted offer becomes a start date.
Roles we search for in Luxembourg
- Country Heads, Managing Directors and members of the management board of Luxembourg fund administration and depositary entities
- Conducting officers for UCITS management companies and AIFMs, including risk, compliance, valuation and portfolio management oversight
- Heads of Compliance, AML compliance leads and Chief Risk Officers
- Heads of Fund Accounting, Transfer Agency, Depositary and Investor Services
- Heads of private assets and alternative fund services
- CFOs and COOs for fund and corporate services groups
- Commercial functions: Heads of Business Development and Sales, Client and Relationship Directors, Heads of Client Solutions and complete business development teams
Also in the EU and beyond: Ireland, the Netherlands and Malta, the UK, the offshore centres, the UAE, Asia and the US. See our fund administration executive search practice, PCF executive search in Ireland, corporate and trust services executive search and the Fund Services Leadership Index.
Frequently asked questions
Do you work in the Luxembourg market?
Yes. We have current and past searches in Luxembourg, and we hire across Luxembourg and Dublin for groups running platforms in both.
Can you recruit conducting officers for a ManCo or AIFM?
Yes. We search for conducting officers across risk, compliance, valuation and portfolio management oversight, and assess candidates against the experience and good repute the CSSF expects.
Do you build commercial and business development teams?
Yes. Alongside leadership searches, we build commercial functions for fund and corporate services businesses, from the Head of Business Development to the relationship and sales team beneath them, designed as a team rather than hired one seat at a time.
How long does a senior fund services search take?
A typical retained search runs 10 to 14 weeks from briefing to accepted offer. Senior notice periods mean start dates need planning well ahead, particularly where a role is needed to meet substance requirements.
Do you work with private equity owned fund administrators?
Yes. Much of the sector is now sponsor backed. We work with management teams and investors on leadership hires through acquisition, integration and growth.
