At Cloche d’Or, the future “The Terraces” building held its topping-out ceremony on Thursday 12 November 2026. This construction milestone brings Lombard Odier closer to its new address, at the corner of Boulevard Kockelscheuer and Rue Mercator. The developer expects to hand over the building in April 2027; in its own announcement, the bank says it will move at the end of the same year. The project involves bringing together three activities already present in Luxembourg.
For Lombard Odier, the project brings its private banking, asset management, and technology and operations activities together under one roof. It also illustrates a less visible form of presence than a property acquisition: the bank will be a long-term tenant and sole occupant, while the project company Grossfeld, a joint venture between Promobe and Nextensa, is responsible for the property development.
A move, not a first arrival
Lombard Odier has been present in Luxembourg since 2010. The future building therefore does not mark the group’s arrival in the country, but the bringing together of three activities already established there. The bank’s announcement places its current teams on Route d’Arlon in Merl and says they will move to Cloche d’Or at the end of 2027.
The bank cites around 300 employees in Luxembourg. This figure gives an idea of the scale of the local presence concerned; it does not mean that 300 people will be recruited for the new site, or that they will all work there every day. The announcement concerns a change of location and the organisation of activities, not an increase in headcount. No quantified target for job creation or losses is announced in the published material.
The term “European headquarters” used in the project presentation may cause confusion. The group’s global headquarters was inaugurated in Geneva in 2025. In Luxembourg, the new building intended for the European units concerned is to become their shared address. It is therefore an important operational centre for the group, but not a transfer of its global headquarters to the Grand Duchy.
Two deadlines, two responsibilities
Grossfeld expects to hand over the building in April 2027. The bank, for its part, plans to move its teams at the end of the same year. These deadlines refer to two different stages: the first concerns the handover of the building, the second the tenant’s move-in. The teams’ relocation should be understood in line with the bank’s timetable, while progress on construction falls under the schedule published by Grossfeld. The documents do not give details of the interim timetable or a date when the building will open to the public.
This distinction also matters when reading the property announcement. Lombard Odier says it chose the project for its location, modularity and flexibility, as well as the quality of construction and the sustainability certifications being targeted. These are the criteria stated by the bank. They describe the reasons for its choice, not results already measured in the building.
The group plans to occupy all six floors on its own. According to RTL, the building has a total area of 4,900 square metres and will include 28 underground parking spaces, as well as a bicycle area and changing rooms. This is the total floor area given in the report. The bank highlights the proximity of public transport and major roads: the choice of site and the planned facilities together form its case for mobility. Employees’ actual travel habits remain to be seen after the move.
Commitments to distinguish from results
The bank says it is aiming for BREEAM and WELL certifications for the building. These standards are among the criteria informing its choice, but the announcement does not say that the certifications have already been obtained. It also highlights the modularity and flexibility of the spaces, the proximity of public transport and the emphasis placed on lower-emission forms of transport. Here too, these are announced features and objectives, not measurements of energy savings or emissions avoided.
The terraces are also part of the building’s design. The bank says all six floors will have access to these landscaped spaces. Its announcement highlights a layout designed to meet the needs of the three activities, with spaces dedicated to collaboration. The developer, for its part, describes a neighbourhood combining offices, homes, shops, services and green spaces. These are the features highlighted by the project’s stakeholders; they do not replace an assessment of how the future site performs in practice.
A major sole occupant can give an office building a clear function and bring several teams from the same company closer together. But this alone is not enough to conclude that Lombard Odier’s activities in Luxembourg will grow, that its assets under management will increase or that the project will affect the city’s rents. The project primarily documents a property and organisational decision: bringing three business lines together in a building designed for their needs, in a neighbourhood where offices, homes, shops and services coexist.
For employees and clients, the announced change is a shared address for the activities concerned. The move into the new building remains a future prospect. The cost of the lease and the bank’s own investment have not been quantified in the announcements. At this stage, the project mainly sets out where and in what form Lombard Odier intends to continue its presence in Luxembourg, with a building to be handed over and teams to move in afterwards.
References
- RTL Luxembourg, “With ‘The Terraces’: Lombard Odier establishes a lasting presence at Cloche d’Or”
- Grossfeld, presentation of Lombard Odier’s arrival at Cloche d’Or
- Lombard Odier, announcement of its new Luxembourg headquarters in 2027
Gasperich Park in June 2023. Illustrative photograph of the urban setting referred to in connection with Cloche d’Or.
