Your new post is loading...
Nicolas Mackel, the head of Luxembourg for Finance, has said that so far, a dozen companies have confirmed to him that they will relocate to the grand duchy in the wake of Brexit.
In an interview with public radio 100,7 on Friday 28 April, Mackel confirmed only the names of companies who have made their decision to come to Luxembourg public:
“Some 5 or 6 bigger companies have already made their decision public, and others have not yet done so. Currently there are a dozen companies--banks, insurance companies, fund managers--who, as far as we know, have decided to come to Luxembourg.”
Among those already confirmed are:
“AIG, the biggest US insurance company, FM Global, another US insurance company. In the funds industry, MMG, a larger management funds group, has said it would relocate. Articles have been published which say that Blackstone and Carlyle, the biggest equity funds company, also decided to come.”
Luxembourg for Finance
The CEO of the industry promotion body stated that:
“LFF is partly financed by the state, partly by PROFIL [Luxembourg Federation of Financial Sector Professionals, whose members include the Aca, ABBL, Alfi and Chamber of Commerce, among others]. It is not directly financed by banks or insurances, but by their associations. We are not a lobbying organisation which is active on the political level, but is focused on business development and communication. Our role is not to comment on Luxembourg politics, but to sell the financial centre internationally.”
Selection criteria: talent
Mackel stated that they tailor their arguments to the clients. Some companies have 20, or even 40, criteria on where they will relocate to:
“Our arguments depend on the sector, but the principal argument in favour of Luxembourg is its stability. Stability is a huge selling point in a world where there are considerable political and economic uncertainties.”
Lloyd’s of London recently decided against the grand duchy, who was only up against the Belgian capital.
“In the end, for Lloyd’s the final selection was between Luxembourg and Brussels. We don’t know what the weighting of these criteria was. For MMG, AIG, etc., Luxembourg performed better on their criteria. These are individual decisions.”
Learn more / En savoir plus / Mehr erfahren:
http://www.scoop.it/t/luxembourg-europe/?&tag=Brexit
The CEO of the industry promotion body stated that:
“LFF is partly financed by the state, partly by PROFIL [Luxembourg Federation of Financial Sector Professionals, whose members include the Aca, ABBL, Alfi and Chamber of Commerce, among others]. It is not directly financed by banks or insurances, but by their associations. We are not a lobbying organisation which is active on the political level, but is focused on business development and communication. Our role is not to comment on Luxembourg politics, but to sell the financial centre internationally.”
Selection criteria: talent
Mackel stated that they tailor their arguments to the clients. Some companies have 20, or even 40, criteria on where they will relocate to:
“Our arguments depend on the sector, but the principal argument in favour of Luxembourg is its stability. Stability is a huge selling point in a world where there are considerable political and economic uncertainties.”
Lloyd’s of London recently decided against the grand duchy, who was only up against the Belgian capital.
“In the end, for Lloyd’s the final selection was between Luxembourg and Brussels. We don’t know what the weighting of these criteria was. For MMG, AIG, etc., Luxembourg performed better on their criteria. These are individual decisions.”
Learn more / En savoir plus / Mehr erfahren:
http://www.scoop.it/t/luxembourg-europe/?&tag=Brexit