At the end of a week-long mission led by Minister of Finance Pierre Gramegna to Beijing, Hangzhou and Shanghai, China’s Ant Financial confirmed the decision of its payment arm – Alipay - to set up its EU hub in Luxembourg.
Luxembourg is once again ranked as one of the top 3 financial centres in the EU, according to the latest edition of the Global Financial Centres Index 24, published today.
J.P. Morgan has decided to establish a significant wealth management hub in Luxembourg and increase its capabilities in its Corporate & Investment Bank - Treasury Services and Custody and Fund Services.
The inaugural edition of the New Financial International Financial Centres Index ranks Luxembourg as the 2nd financial centre in the European Union, after the UK. In terms of international activity, Luxembourg even ranks 3rd globally behind the US and UK but ahead of major European and Asian financial centres such as Hong Kong, Singapore, Germany or France.
Bank of Singapore, the dedicated private banking subsidiary of OCBC Bank, which is the second largest financial services group in Southeast Asia by assets, has received a license to operate a wealth management subsidiary in Luxembourg. It is the first time a Singaporean bank sets up shop in the country.
The law, which entered into force on July 1st, establishes the legal framework for a new type of covered bond to finance the generation of renewable energies. This is the first law globally to establish a Green Covered Bond and underlines Luxembourg’s commitment to help drive global innovation in sustainable finance.
Nicolas Mackel, CEO, Luxembourg for Finance discusses why Luxembourg is continuing to win Brexit business on Sky News with business presenter Ian King.
Over the course of the last decades, Luxembourg has built a financial services industry that is specialised in cross-border activities. Well known for its funds, wealth management, insurance and capital markets activity, Luxembourg is maybe less known for its corporate finance services.
The Luxembourg Stock Exchange (LuxSE) has launched a Green Bond Channel in partnership with the Shanghai Stock Exchange (SSE).
One of the most striking characteristics of Luxembourg’s financial industry is the international make-up of its work force. Although the diverse background of so many people means they do not all have English as their mother tongue, it has become the common business language.