Luxembourg for Finance is pleased to unveil LUXFIN2020, a five-year vision for the development of the Luxembourg financial centre.
In this report, Luxembourg articulates how it has grown into one of Europe’s leading financial centres over the past three decades and describes how it will continue to strive for excellence and high quality service throughout its financial services industry. Thanks to its inherently international position, Luxembourg has developed cross-border products and services in a variety of sectors including banking, investment funds, wealth management, insurance and capital markets.
In recent years, Luxembourg has become a leading hub in the European Union from where many financial institutions manage their international operations. LUXFIN2020 builds on Luxembourg’s core strengths and identifies opportunities in other, newer sectors of the financial services arena. Luxembourg’s approach to business has always been open and innovative, which combined with the depth and maturity of its financial ecosystem, make the financial centre the best possible launch pad for new financial services and products.
The vision developed in the report is built around three principal objectives:
1 — TO DEVELOP FURTHER AS A CENTRE OF EXCELLENCE IN CROSS-BORDER FINANCE
Consolidate and develop Luxembourg’s expertise in cross-border financial services
2 — TO BE THE EU ONSHORE FINANCIAL HUB OF REFERENCE
Expand Luxembourg’s role as the European location of choice for global financial services providers
3 — TO BECOME A DIGITAL LEADER IN EUROPE
Foster innovation and become a leader in digital financial services
These objectives will be accompanied by improvements in hard and soft infrastructure and supplemented by growth drivers for each underlying sector of the financial centre.
Nicolas Mackel, CEO of Luxembourg of Finance, said: “Luxembourg’s financial centre will continue to improve its competitiveness and establish itself as the destination of choice in the European Union for international investors. Luxembourg’s solid foundations as well as the vision developed in LUXFIN2020 will enable us to remain a leading international financial centre for years to come. In particular, Luxembourg is strategically positioned to become one of Europe’s FinTech leaders and offers the physical, regulatory and investment environment for financial technology businesses to bring new products and services to market.”
Over the next five years, Luxembourg’s financial centre will further leverage the excellence of its financial services and is committed to remaining a destination of choice for international skilled professionals and their families, businesses as well as investors from all around the world.