Sector

Luxembourg is heading to the polls on Sunday. The outcome is anticipated to reaffirm the Grand Duchy’s status as an international financial centre rooted in political stability. Two issues, however, stand out: talents and taxes.

European ESG funds face a record number of closures as greenwashing scrutiny intensifies and the allure of higher fees diminishes, data shows.

The European banking sector has witnessed a remarkable resurgence, chalking up its best performance since the 2007 financial crisis, according to a recent Deutsche Bank research report. Notably, European banks have narrowed the long-standing performance gap with their US peers.

Luxembourg needs to make a bigger effort to supervise the non-financial sector and better scrutinize real estate firms, trust companies, notaries and services firms, the world’s top body to fight money laundering and the financing of terrorism said on Wednesday.  Both the Luxembourg government and financial sector supervisor CSSF issued statements underling the FATF report’s “overall good result” for Luxembourg.

Key players in the Luxembourg financial industry’s effort to prioritise green goals are simultaneously ensuring that oil & gas companies can continue to warm the planet, in some cases until late this century, according to a news investigation by the Luxembourger Wort daily and the Luxembourg Times.

Urban Angehrn, the former chief executive of the Swiss financial regulator, FINMA, recently stepped down, citing the toll on his health from “permanent stress levels,” months after orchestrating the rescue of Credit Suisse by UBS. However, it is not only people in high-profile jobs who experience burnout.

A few years ago, a younger version of myself also experienced burnout.

Panel discussions at Alfi’s Global Distribution Conference on Wednesday exposed differing viewpoints on the definition of a retail investor, casting a shadow over prospects for success for the next generation of European Long-Term Investment Funds, or Eltifs.

Monex Europe S.A., a commercial foreign exchange specialist, has relocated to a larger office in downtown Luxembourg to accommodate its growth and future expansion plans and ambitions to expand its services in private equity and investment funds.

The European Commission is considering a revamp of the way sustainable investment products are classified and is about to launch a three-month consultation soon. The current system, governed by the Sustainable Finance Disclosure Regulation (SFDR), categorizes these products under Article 8 and Article 9, but this could be subject to change.

In a significant blow to the push for gender equality within the asset management sector, Citywire’s Alpha Female Report for 2023 shows almost no progress in the representation of female fund managers over the past year.