Duco, a London-based fintech provider of hosted reconciliation services, today announced the establishment of its European regional headquarters in Luxembourg as the next step in its global expansion plans. The move follows the opening of Duco’s North American regional headquarters in September and continued investment in its global base in London.
Duco Chief Executive Officer and Co-Founder Christian Nentwich, Ph.D., said: “Following a very successful 18-month growth period where we built our client base from zero to 28 financial and service organizations, the recent significant ‘series B’ investment by ICAP and the establishment of our New York office, expanding further into Europe was the logical next step.”
Michael Marconi, Duco Chief Technology Officer and Co-Founder, said: “Luxembourg is an ideal location for Duco given its importance as a hub for many financial institutions, particularly as a recognized centre of excellence in post-trade administration, middle- and back-office and accounting operations. We anticipate that our Duco Cube reconciliation platform will be very well received in this community and in the neighbouring European states, as firms look to embrace new technologies to improve control functions, reduce cost, ensure regulatory adherence and improve end customer service.”
The new office will be staffed for sales, client support and marketing across the northern European region and as a network point for global client support.