Luxembourg, June 30 2021
Ludmila Careri and Martin Groos join as new conduction officers
ManCo and AIFM reinforces commitment to Luxembourg and client service
Universal-Investment Luxembourg increases AuA to EUR 94bn
Ludmila Careri started in her role as part of the management team responsible for distribution, operations and outsourcing controlling governance. She was most recently Chief Risk and Compliance Officer and Authorised Manager at M&G International Investments and prior to that Head of Distribution at FundRock Management Company, both in Luxembourg. She is an economist and linguist with 15 years of professional experience in the financial industry. With her extensive expertise, particularly in the development of distribution models, she will further expand international sales opportunities, especially for fund initiators as clients of Universal-Investment.
In addition, Martin Groos has joined the UIL management team and is responsible for legal, compliance and corporate investment services. He comes from Schroders Investment Management (Europe) S.A., where he was Head of Investment Compliance. Martin is a compliance and risk specialist and his previous positions include Allianz Global Investors and cominvest Asset Management, all based in Luxembourg. Educated as a lawyer he has been employed in various financial companies for more than 15 years. In his new role, he will also be a partner for clients at senior management level, supporting clients with his deep knowledge of Luxembourg’s investment vehicles.
Broader management positioning is important for further expansion and the ambitious international growth strategy. Luxembourg has been the spearhead of this strategy for more than 13 years. The local entity is the largest AIFM as well as the largest third-party ManCos in Luxembourg. UIL was able to increase its assets under administration to around EUR 94 billion thanks to intensive cooperation with clients such as institutional investors and asset managers. Accordingly, the number of employees at UIL, including its Frankfurt branch, rose to more than 100 for the first time.
Michael Reinhard, CEO of Universal-Investment, explains the plans: "Our goal is to become the leading European fund service platform and ManCo for all asset classes. UIL plays an important role as a hub for our internationalisation strategy. Luxembourg is the largest fund center in Europe, with its multi-cultural multi-lingual environment, it is a cross border distribution hub, with a strong regulatory framework and brand. We experience high-demand for both traditional and alternative investments vehicles and are well positioned to service institutional investors but also asset managers as fund initiators, allowing them to focus on their core business."
Sean O'Driscoll, Country Head of UIL: "I am very pleased that we were able to appoint two new experienced and skilled individuals to our Luxembourg management team. With these hires and the continued increase of our local substance, it reflects our focus on solutions for customers but also the growing importance as well as our commitment to the Luxembourg marketplace. UIL will be even stronger as a result.“