Corporate payments provider Corpay, Inc. (NYSE:CPAY) today announced its entry into Luxembourg with the establishment of a new office for its Cross-Border business.
As part of Corpay’s ongoing expansion in Europe, this significant move aligns with the company’s strategy to enhance its presence in key financial markets worldwide and supports its growth ambitions in the institutional investor and private funds space.
“The new Luxembourg office underscores our commitment to supporting the sophisticated needs of this global client base and enables us to provide a localized solution set for our institutional clients that establish their international investment structures in Luxembourg,” says Andrew Shortreid, SVP, Global Institutional Sales, Corpay Cross-Border Solutions. “Luxembourg’s status as a major financial hub in the EMEA region, with nearly 50% of its workforce engaged in financial services or related activities, makes it an ideal location for us. This new branch will enable us to better serve our cross-border clients in the investment industry globally.”
Corpay is introducing a range of institutional solutions strategically targeted for this market including global multi-currency accounts, global payments, and other services focused on transaction support. This approach addresses the complexities of establishing financial relationships within Luxembourg’s conservative market and provides clients with an alternative to banks.
“Luxembourg represents a pivotal market for Corpay with its advanced financial sector, and we are thrilled to establish our presence here,” said Mark Frey, Group President, Corpay Cross-Border Solutions. “This expansion is a testament to our commitment to global growth and our dedication to meeting the needs of our clients in key financial markets. We look forward to leveraging our robust architecture and regulatory compliance to help our clients navigate Luxembourg’s stringent banking industry.”
“We are excited to welcome Roman Sokolowski as the branch manager for our new Luxembourg office. Roman brings a wealth of experience in the local market and a proven track record in the financial industry. His extensive network and proactive approach will be invaluable as we expand our presence and enhance client-centric solutions in this key jurisdiction,” added Andrew Shortreid.
