Luxembourg’s Minister of Finance, Pierre Gramegna, was in China for high-level bilateral meetings this week, including with Minister of Finance Xiao Jie and Governor Zhou Xiaochuan of the PBOC. The Minister headed a delegation of more than 70 key decision-makers from Luxembourg’s financial services industry.
Luxembourg is one of the leading financial centres in the EU, together with London and Frankfurt. This was confirmed once again by the latest Global Financial Centres Index (GFCI 22). Climbing by four places, Luxembourg now ranks #14 out of 92 global financial centres overall.
Nicolas Mackel, CEO of Luxembourg for Finance, spoke with Sky News “Ian King Live” in London about the UK Brexit strategy and why Luxembourg is winning Brexit business.
Today, Tokio Marine announced that it will establish its new European subsidiary in Luxembourg following the UK’s decision to leave the European Union. Tokio Marine is aiming to have the new insurance company operational within the first half of 2018 to enable Tokio Marine HCC and Tokio Marine Kiln to start writing business, including with Japanese customers.
Long-term strategic investment by Legend Holdings to grow BIL franchise in Luxembourg, Europe and internationally
Luxembourg will act as EU-hub and drive Payconiq’s expansion with the support of international banks.
China Everbright Bank (CEB) has received approval to set up its subsidiary in Luxembourg. This strategic move will strenghten CEB’s operations in Europe and confirms Luxembourg’s position as the main gateway for Chinese banks into the European market.
The Luxembourg government has officially submitted its bid to host the European Banking Authority (EBA). Thus Luxembourg follows a call for offers by the European Council published in June. A European capital, already home to the EU’s judicial and financial institutions, and the Euro area’s leading financial centre, Luxembourg is the natural choice to host the EBA.
Today, Northern Trust announced its intention to set up its EU bank in Luxembourg, highlighting the bank’s continued strategic focus on growing its business in Europe.
Natixis Asset Management has announced that investors have successfully purchased shares in its funds through FundsDLT, the Luxembourg blockchain-powered fund distribution platform for fund managers. This is the first real blockchain transaction in the global investment fund industry.