Guy Wagner

Tensions in the banking sector increase the likelihood of a recession during the year, according to chief investment officer Guy Wagner at asset manager BLI - Banque de Luxembourg Investments.

Nevertheless, prior to the onset of the banking turmoil, the resilience of the global economy was still in evidence, with service activities continuing to benefit from robust household demand due to continued full employment in most countries, Wagner and his team said in their latest monthly market report.

Although the global economy finds itself in a slowdown phase, it continues to demonstrate resilience thanks to domestic consumption in the US and government relief measures to reduce energy bills in Europe, Guy Wagner, Chief Investment Officer at Luxembourg asset manager BLI - Banque de Luxembourg Investments, said in his latest investment report. Over the next year however, he expects the global slowdown to deepen.

BLI - Banque de Luxembourg Investments on Thursday said that it has appointed Fanny Nosetti (photo) as chief executive officer. The appointment means that Guy Wagner now can “focus entirely” on his role  as chief investment officer, managing the firm’s flagship, 1.8 billion euro BL Global Flexible Euro fund and continuing to refine the investment approach he has developed with his teams. Since 2005 Wagner served both as CEO and CIO.

The Grand Duchy hosts few portfolio management operations, despite being a world leader for cross-border asset and fund servicing. Banque de Luxembourg Investments (BLI) is an exception. According to managing director Guy Wagner: “We are a small boutique asset manager with private banking DNA.”