Robert Scharfe, Francoise Thoma, Pierre Gramegna, Juie Becker and Frank Wagener celebrate the Luxembourg stock exchange's 90th birthday
Photo: Matic Zorman
The Luxembourg Stock Exchange celebrated its 90th birthday on Thursday 17 May. Established in 1928, between the two great wars, its initial ambition was to support local business projects. Since then it has become a driving force in the development of the Luxembourg financial centre, as well as a global leader.
An article on Paperjam on 18 May 2018 quoted Frank Wagener, president of the Luxembourg Stock Exchange, as saying, “To this day we remain a nimble player, capable of moving with the times. However, we must constantly analyse those factors that will determine the course of the future.”
At a gala event organised in celebration of the 90th birthday, finance minister Pierre Gramegna said that the development of the exchange mirrors the development of the Luxembourg economy, which he said is, “capable of punching above its weight and always with emphasis on international markets, permanent innovation, fintech and sustainable finance.”
For Robert Scharfe, CEO of the Luxembourg Stock Exchange, it is essential that it does not become complacent. “The world changes very quickly and we must remain capable of adapting to it.” He referred to the Luxembourg Green Exchange, the world’s first green exchange that was established in 2016, citing it as an example of how the exchange doesn’t simply adapt to change, but also leads it.
“Finance has to become sustainable,” he said. “Sustainable finance must become the norm in the future, rather than the exception.”