Allen & Overy Luxembourg, in cooperation with Allen & Overy Beijing, has assisted China Construction Bank (CCB), the second largest bank in the world based on market value, to set foot in Luxembourg. CCB is the third Chinese bank to come to Luxembourg after Bank of China and ICBC.

The Luxembourg team was led and coordinated by Henri Wagner, managing partner of the Luxembourg office, assisted by senior associate Anne-George Kuzuhara and trainee Clémence Igot for the regulatory aspects. Given the broad scope of the project, other Allen & Overy Luxembourg teams led by Partner Fabian Beullekens for the corporate aspects, partner André Marc for the immigration, labour law and real estate aspects, and partner Patrick Mischo for tax, were also involved. The project, which was completed within 8 months, is a striking example of Allen & Overy’s capacity to line up specialised teams who can work and deliver an impeccable service together, including across boundaries as Luxembourg and Beijing offices have worked closely on this project. It has also been an occasion for the Luxembourg office to strengthen its relationship with the CSSF (the Luxembourg financial supervision authority) and the Luxembourg Ministry of Finance and Prime Minister, who met with CCB in 2012 to discuss this important project for the Luxembourg financial centre.

Allen & Overy won the mandate as a result of a lengthy pitching process involving many rounds and run by Jane Jiang, partner in the Allen & Overy Beijing office, followed by several meetings between CCB and the Allen & Overy Luxembourg team. We hope now to build on the relationship with CCB locally, and via the Luxembourg APAC desk.