Attracting young talent from abroad to drive the next generation of leadership in Asset Servicing

Is Gen Z the new cohort of frontaliers?

Sustainable Finance in Luxembourg 2024
  • Survey
  • March 26, 2025
95%

of respondents said they would consider Luxembourg as a place to live and work.

52%

said Luxembourg is their first choice when considering a move outside their own country.

79%

of Gen Z professionals in Luxembourg are likely to stay with their current employer for at least one year, but only 52% foresee staying for five years.

For years, Luxembourg’s Asset Management and Asset Servicing sectors have relied on cross-border workers from neighboring countries: Germany, France, and Belgium to meet the increasing demand for skilled professionals. However, with the sector continuing to grow at a rapid pace, the question arises: are we fully leveraging the potential of attracting young talent from a broader, even global, talent pool?

To explore this, the Luxembourg Asset Service Provider Senior Leader Roundtable (ASP SLR) community launched a dedicated Working Group in 2023. Their goal? To assess how Generation Z, both local residents and those abroad, perceive Luxembourg as a potential destination for career opportunities and what factors influence their decision-making.

The findings of this survey provide valuable insights for the industry, policymakers, and employers alike. Understanding what motivates Gen Z can help shape recruitment strategies and workplace policies to make Luxembourg the top destination for young talent.

Key findings

  • Many international Gen Z respondents view Luxembourg as an attractive destination, particularly due to its financial sector opportunities, international work environment, and career growth potential.

  • However, concerns about the cost of living and housing availability remain barriers that must be addressed to increase relocation appeal.

  • A significant portion of locally based Gen Z professionals consider Luxembourg an ideal place to build their careers.

  • They value flexible work arrangements, career progression opportunities, and strong employer branding, particularly in terms of diversity and sustainability initiatives.

  • The challenge of attracting and retaining young professionals is not unique to the ASP sector; it requires a coordinated effort with key industry bodies, including LFF, ALFI, ABBL, L3A, LPEA, and LHoFT.

  • Developing targeted messaging, reducing relocation uncertainties, and improving career visibility for Gen Z could position Luxembourg as a first-choice employment hub.

Next Steps: From Insight to Action

The survey highlights the importance of moving beyond traditional talent attraction methods. To ensure Luxembourg remains competitive in securing the next generation of financial leaders, companies and industry stakeholders must:

  • Strengthen employer branding and showcase career growth opportunities.

  • Address practical concerns such as housing and work-life balance.

  • Foster a workplace culture that aligns with Gen Z’s values, including flexibility, diversity, and purpose-driven work.

By proactively shaping Luxembourg’s value proposition for Gen Z professionals, the industry can unlock a vital talent pool and ensure sustainable growth. Now is the time to act and establish Luxembourg as the employer of choice for the future workforce.

Is Gen Z the new cohort of frontaliers?

Contact us

Lionel  Nicolas

Lionel Nicolas

Advisory Partner, ASP Leader, PwC Luxembourg

Tel: +352 49 48 48 4172

Follow us