Luxembourg in top 3 EU financial centres, climbs in global rank
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.
The Luxembourg financial centre scores particularly well in the industry sub-indices ‘Human Capital’ and ‘Government & Regulatory’ (#10/#5).
Categorised as one of two ‘Global Specialists’, alongside Shenzhen, Luxembourg is also one of only two European centres likely to become more significant in the future. ‘Global specialists’ are centres with a special depth in the industry sectors of investment management, banking, insurance, professional services, and government and regulatory.
During the last month, several global financial groups have announced to set up their European hub in Luxembourg, the latest being leading Japanese insurer Tokio Marine. The company follows global players such as Liberty Speciality Markets, RSA, CNA Hardy, Hiscox, AIG, FM Global, M&G, as well as US bank Northern Trust, who have also chosen Luxembourg as their new EU base to ensure that they can continue to serve their European client base.