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When it comes to succession planning, starting a foundation can be a way to ensure the future of the business and keep its founder’s vision alive, while financing projects that benefit society.
Enthusiasm for philanthropic activities has continued to grow in recent years. The trend is supported by a new generation of entrepreneurs who are more involved in and committed to environmental and social issues.
Helping to build a fairer society: following the example of the Fondation André Losch
A pioneer of philanthropy in Luxembourg, the Losch family is a striking example.
Founded in 1948, the Losch Group was originally a small importer of Volkswagen vehicles. Over 70 years, it adapted and grew with the automobile sector, helping to build the history of mobility in Luxembourg.
For five decades, André Losch led the family business with passion and a long-term vision. His death in 2016 marked a turning point for the Group.
It raised a host of questions with regard to the fundamental identity of the company: How could the founder’s legacy be preserved? Where did the company’s roots lie?
With characteristic foresight, André Losch left nothing to chance. When it became clear that a direct descendant would not take over the reins of the business, he decided to create a foundation, a unique concept in Luxembourg at the time. He had a clear objective: to safeguard the future of the Losch Group, firmly establish its roots in the Grand Duchy and, in parallel, give significant support to charitable initiatives.
He created Fondation André Losch in 2009.
André Losch stipulated that, when he died, ownership of the Group’s companies and their business profits would revert to his foundation.
Fondation André Losch was set up to support projects in education, social cohesion, scientific research and health.
Planning philanthropic projects
Decisions about philanthropic projects should not left up to chance and wealth advisers play a crucial role. In fact, the better a philanthropic project is planned, the greater the benefits for the donor, the receiving organisation and, ultimately, society at large.
“As a Bank, we support clients with succession planning and help them to structure their philanthropic projects. This may involve bringing them into contact with specialists who can help them to select charities that align with their goals,” explains Anne Goedert, Family Practice Adviser at Banque de Luxembourg.
Banque de Luxembourg was one of the first banks in the Grand Duchy to offer philanthropy advice. For more than fifteen years, we have been supporting families and businesses who wish to structure a philanthropy project and secure its future.
To find out more about what philanthropy can offer, and share the experience of Fondation André Losch, we are hosting a ‘Family Business Day’ webinar on 10 June 2021 in cooperation with:
• Damian Damiani (former CEO, Losch Group)
• Daniela Ragni (Director, Fondation André Losch)
• Pit Reckinger (Chair of Fondation André Losch)
• Anne Goedert and Theo Demmeler (Banque de Luxembourg)
The webinar will be in German.
Sign up now
To learn more about Banque de Luxembourg’s philanthropy advice services or our services for family businesses, contact
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