Nicolas Mackel, CEO of Luxembourg for Finance, spoke with Bernie Lo on CNBC Squawk Box about Brexit and Luxembourg’s offer to international companies and financial institutions.
The ten years of LFF’s existence happen to coincide with a particularly eventful decade for the Luxembourg financial centre and the global financial industry as a whole, marked by several important developments: the global financial crisis and the ensuing wave of regulations, the international move towards tax transparency, the rapid digitalisation of financial services, and a marked global shift towards sustainable investments.
Today, international financial centre leaders gathered in Paris to make progress on climate change and sustainable development, and outline practical ways to strengthen their collaboration. On the occasion of the One Planet Summit in Paris, LFF participated at a conference “Financial centres: mobilising capital to accelerate climate action”.
The Luxembourg government and the European Investment Bank were present at the COP23 in Bonn with a joint pavilion, hosting various workshops and seminars over the two weeks of the COP on climate finance and climate projects by the EIB as well as by the Luxembourg government and financial services industry representatives.
Italy is a key market for the Luxembourg financial centre, whether in the investment fund industry, corporate banking, wealth management, capital markets or insurance - a fact that was amply confirmed by the record attendance at the seminar that Luxembourg for Finance, in cooperation with the Italian-Luxembourg Chamber of Commerce, organized in Milan, in the presence of TRH Crown Prince Guillaume and Princess Stéphanie as well as Minister of Finance Pierre Gramegna.
Japanese insurer, Sompo International, has today become the latest leading Japanese financial institution to announce plans to establish its new European insurance headquarters in Luxembourg following the UK's decision to leave the European Union.
Luxembourg for Finance and its Korean counterparts aim to work together to develop exchanges in the area of financial services between the two countries. LFF’s CEO, Nicolas Mackel, stated that Luxembourg is looking forward to working with Korea to bolster Seoul’s role as a leading Asian financial center and Luxembourg’s role as a platform for Korean fund managers in Europe.
This new record for the Luxembourg fund industry represents a 7.9% increase since the beginning of this year and is mainly due to net sales.
Japanese insurer, Aioi Nissay Dowa Insurance (ADI), has today become the latest leading global financial institution to announce plans to establish its European subsidiary in Luxembourg following the UK's decision to leave the European Union.
On 28 September, Luxembourg for Finance (LFF) and the Luxembourg Stock Exchange participated at the 1st international meeting of sustainable financial centres, organized by Casablanca Finance City together with the United Nations Environment Programme Inquiry (UNEP Inquiry).