Carne is an established provider of governance and distribution solutions for Luxembourg-domiciled funds. We provide a range of services that can support the establishment and ongoing operation of Luxembourg investment vehicles.
Carne can provide qualified Conducting Officers to deliver additional independent oversight for funds in Luxembourg. Our personnel have strong track records in the funds industry and are familiar with the latest CSSF governance requirements.
Carne Global Financial Services Luxembourg S.à.r.l.
European Bank & Business Centre
6B Route de Trèves
A copy of our Luxembourg complaints policy is available here.
Steve Bernat is the CEO of Carne’s Luxembourg business and a highly experienced investment fund expert with strong background in funds distribution and operations. He is responsible for managing the day to day business of Carne’s Luxembourg office and its management company.
Steve has almost two decades of experience in theinternational funds industry, working to facilitate the requirements of fund management clients from across the globe. He has a background in fund services, and was most recently a member of the Executive Committee at Lemanik Asset Management, where he was also acting as General Manager of Lemanik’s Dublin branch. He worked for seven years at Citi with its European Fund Services and Securities division, and prior to this was employed by State Street/International Financial Data Services (IFDS), where he managed the client relations team. Steve has also worked with Pioneer Investments.
Steve speaks English, German, French and Luxembourgish. He is an active member of fund industry committees and working groups and a regular speaker at conferences around the globe.
John joined the Carne Group in Luxembourg in Q2 of 2014 as Managing Director. He brings with him a strong management and operations background with over 30 years’ experience in the funds’ industry. Prior to joining the Carne Group, John was a Managing Director of Legg Mason International and served as director on the Legg Mason and Western Asset fund ranges in Luxembourg, Ireland as well the UK and Cayman Islands. He was also director and acting COO of Legg Mason’s Luxembourg based UCITS management company. John’s governance responsibilities included overseeing the risk management and compliance functions as well as monitoring fund operations (i.e. NAV production and TA services). His business responsibilities spanned product management and implementation (including fund passporting activities).
BSc Hons in Mathematics and Computing
Diploma in Computer Science
Certificate of Business Administration
English, French, German & Luxembourgish
Tracey has over 20 years’ experience in the investment funds industry. She acts as an independent director and conducting officer for a number of Luxembourg funds on both UCITS (mixed strategies) and alternative investment funds (mixed and infrastructure AIFs). In her capacity as Conducting Officer she has undertaken oversight roles for fund operations, fund performance, risk and distribution. She works on and liaises with boards of directors and also works closely with administrators, custodians, lawyers, clients and the CSSF (the Luxembourg financial regulator). Tracey is an active participant (Luxembourg’s fund industry association), the ILA (Luxembourg’s directors’ association) and she is a member of the Conducting Officer Forum. She participates in various other ALFI committees and has spoken on panels at industry forums. To fund boards she brings her considerable experience of operational and regulatory issues affecting cross-border funds in Europe.
Prior to joining Carne Tracey was General Manager of PFPC in Luxembourg, responsible for day to day operational management of fund accounting, transfer agency, relationship management, business development, new systems implementation, and budgetary and financial matters. Before she worked with PFPC Tracey spent five years at BNP Securities Services in Luxembourg where she was Head of Client Services. She has also worked as a Global Custody Manager with Deutsche International Ireland. She holds a Degree in Financial Services from University College Dublin.
Veronica has spent over a dozen years within the asset management industry. As a fund director her specialist areas include governance, product development and the successful launch of Dublin and Luxembourg-domiciled funds in both the traditional and alternative spheres.
As manager in Carne’s fund passporting and registration team, Veronica has built up extensive knowledge of UCITS distribution and oversight issues. She is also familiar with the demands of compliance and regulation of funds across Europe.
Prior to joining Carne in 2006, Veronica was a compliance specialist with Fleming Family & Partners in London. She has also been a consultant within the Regulatory Consulting Practice at PricewaterhouseCoopers in London, focusing on the fund management sector. She holds a degree in Aeronautical Engineering from the University of Southampton and a Masters in Design Management..
Lydie is a senior executive and Conducting Person with our Luxembourg office and has over 25 years of experience in the funds industry. In particular, she is highly familiar with fund distribution and passporting, supervision of delegates, fund operations (middle and back office), compliance and audit. She has lengthy experience of the many operational needs of cross border fund distribution.
Lydie joined Carne from Legg Mason where she was Head of Product Regulatory and Implementation in the Luxembourg office, including oversight, project management and fund registration. Prior to this she spent 11 years in Citigroup in both the asset management and private banking areas where she has had experience of a number of senior operational roles, including managing product launches and mergers, overseeing critical regulatory services, managing the middle office and meeting various other operational requirements.
Lydie began her career as an accountant with Société Fiducaire et Comptable Longwy. She has a Baccalauréat B (Economie) from Lycée Alfred Mézières in Longwy and a Brevet de Technicien Supérieur from the Lycée Schumann in Metz.
Alex is a Luxembourg-resident independent director and conducting officer on UCITS, SIF & AIF funds and has over 20 years of experience of fund launches, project management, risk management, compliance and day to day fund operations. He is a highly seasoned professional with in-depth knowledge of fund operations. Alex is particularly familiar with the many service provider-related issues which face funds, including pricing, financials, yearend regulatory requirements, ongoing due diligence reporting, fund accounting, investment compliance, custody, IT and tax. He has experience of setting up and managing securities lending programs and the management of sub-advisor relationships, amongst other critical issues. Since joining Carne group in early 2010, Alex has assisted a number of managers to establish regulated funds in Luxembourg. This includes project managing all activities of the launch process with the investment managers / promoters, service providers and lawyers.
Alex is an active member of ALFI’s Due Diligence Reviews of Service Providers.
Prior to joining Carne in 2010 Alex was a director at American Express Bank for 9 years based in New York and Luxembourg in charge of the compliance and risk oversight for a number of Luxembourg domiciled funds. Before he worked at American Express Bank Alex spent 4 years at Soros Fund Management in New York working on private and family funds for Mr. George Soros.