Lena Lascari, CEO of  EFG Bank (Luxembourg). Photo: Lena Lascari, EFG Bank

Lena Lascari, CEO of EFG Bank (Luxembourg). Photo: Lena Lascari, EFG Bank

As part of The 2023 Finance Awards, organised by the Paperjam+Delano Business Club on Tuesday 21 November, Lena Lascari, CEO of EFG Bank (Luxembourg), shares her point of view on the financial market in Luxembourg.

What key competitive advantages allowed the international success of the Luxembourg financial centre?

Lena Lascari: Luxembourg has a highly developed economy and is one of the most competitive financial centres in the world. First and foremost, Luxembourg enjoys a remarkable degree of political stability and has a well-developed and robust regulatory framework that ensures solid investor protection and promotes confidence in the financial sector. Both of these factors are crucial to attract investors and institutions seeking a secure financial environment.

A strong tradition in wealth solutions and fund services further enhances Luxembourg positioning as a preferred location for international investors. At the same time, the country has a highly skilled and multilingual workforce with expertise in finance, law and related fields. All of these competitive advantages have contributed to the growth and success of Luxembourg as a financial centre on the world stage.

What is your own role in the success of the Luxembourg financial centre?

Luxembourg is renowned as a cross-border banking centre and is therefore an important hub for our international banking business. As part of EFG International, which has over 40 locations worldwide, EFG Luxembourg brings an extensive international network to Luxembourg. With our services, expertise and commitment to maintaining a strong financial community, we help to consolidate Luxembourg’s position as a leading financial centre that is renowned for its excellence and global reach. Our presence and services enable our clients to carry out international financial activities in the country, thus reinforcing its status as a global financial hub.

How do you foresee the future of the Luxembourg financial centre?

The future of the Luxembourg financial centre will be shaped by a number of factors, including the digital transformation, sustainable finance, regulatory change, global economic conditions, geopolitical events and international cooperation. In particular, sustainable finance and digitalisation have emerged as important drivers of change. With its rich history as a trusted hub, a solid regulatory environment and a high level of financial expertise, I believe that Luxembourg is poised to achieve sustainable success and growth in the years to come.