The tiny state can claim victory in the race to become the EU’s private banking hub As London’s investment bankers, corporate lenders and traders flock to Frankfurt, Paris and Dublin, the tiny state of Luxembourg has found a sweet spot — private banking. On Wednesday, it emerged that Citigroup is setting up a new base to administer the accounts of its EU private banking clients in Luxembourg, the second smallest nation in the EU by population size and area (after Malta). Cit