Investment Officer Luxembourg

The recent inflation bombshell must have rattled Powell and his cohorts, throwing a wrench into their plans for imminent rate cuts in pursuit of a smooth economic descent. Equities, too, find themselves on shakier ground.

Private banks are navigating challenges in discerning customers’ sustainability preferences, hindered by a lack of common definitions and necessary data. The struggle persists as new legislation under Mifid 2, effective since August 2022, mandates including sustainability factors in suitability tests. Oxford Risk’s survey among wealth managers reveals industry-wide difficulties in implementation.

Protracted discussions over the EU’s new regime for European Long Term Investment Funds, known as Eltifs, are delaying the launch of new funds for these private asset investments.

This week’s overview of transfers, appointments, promotions and other people news includes updates from MFS, Candriam, TMF and Eiopa.

Nicolas Mackel, currently serving as the ceo of Luxembourg for Finance, is preparing to assume a new role as Luxembourg’s permanent representative to the European Union in Brussels. 

According to Luxemburger Wort and RTL, Mackel’s transition from the financial sector to a diplomatic post is expected to occur in September, marking his return to the international diplomatic arena.

Expecting firms covered by DORA to possess the skills, time, and capacity to function as ICT experts is yet another regulatory demand that offers little in terms of investor protection. The added layers of control imposed on investment firms are poised to escalate costs far more than they bolster safeguards.

Tokenisation is the next step for the asset management industry. So says not only Larry Fink, Blackrock’s CEO, but also Jeroen van Oerle, manager of Lombard Odier’s fintech strategy. He sees the potential impact mainly in private markets.