The international banking group Standard Chartered on 9 January 2025 announced the opening of its new entity in Luxembourg, with Laurent Marochini joining as CEO of the Luxembourg entity. The new entity will act as the group’s European Union regulatory entry point for the provision of crypto and digital asset custody services to EU clients, Standard Chartered said in a press release.
“We are really excited to be able to offer our digital asset custody services to the EU region, enabling us to support our clients with a product that is changing the landscape of traditional finance, whilst also providing the level of security that comes with being an appropriately regulated entity,” commented Margaret Harwood-Jones, global head of financing & securities services, Standard Chartered. “We are incredibly proud to be paving the way for our institutional clients to access the digital asset ecosystem.”
The opening of the Luxembourg business is part of Standard Chartered’s global digital asset strategy, the company said, allowing it to expand its digital asset portfolio. It follows the launch of digital asset custody services in the United Arab Emirates in September 2024.
Marochini, who joins Standard Chartered after 18 years at Société Générale, added: “It is an honour to join the leading international bank, Standard Chartered Luxembourg as CEO. I am fully committed to delivering excellence for our clients, team and stakeholders.” Marochini’s most recent position at Société Générale was as head of innovation. He is also chairman of the working group fintech and innovation forum at the ABBL bankers’ association, co-chairman of the working group blockchain – crypto currencies / member of the executive committee of the digital forum fintech at the Association of the Luxembourg Fund Industry (Alfi) and president of the blockchain & crypto task force at the Luxembourg House of Financial Technology (Lhoft).
Founded in 1969 with the merger of The Chartered Bank of India, Australia and China, and Standard Bank of British South Africa, Standard Chartered is headquartered in London and offers consumer, corporate and investment banking, and treasury services.