Annual Report - paperJam

6. Communication
ABBL Communication in 2010
A renewed focus on communication
In April 2010, the ABBL elected a new chairman.
From the outset, Ernst Wilhelm Contzen made
communication a top priority of his mandate, racking
up press interviews, as well as meetings with
important stakeholders, regulators and ministers.
The ABBL thus noticeably stepped up its communication
activities and media presence in 2010.
In addition, the ABBL increasingly coordinated
its communication efforts with Luxembourg for
Finance, European Banking Federation and ALFI.
The newly elected Chairman was highly solicited
by the press, and, in joint coordination with the
ABBL’s CEO and communication team, commented
on a number of national and international
issues.
2010 was indeed a year rich in events and communication
issues: tripartite negotiations, austerity
measures, sovereign debt crisis, Basel III, banking
and financial transaction taxes, employment in the
banking sector, etc.
As the voice of Luxembourg’s banking sector,
the ABBL was naturally a preferred source of information
and statements for the press on these
and other issues.
The crisis is felt in Luxembourg
If 2008 was the year of financial shock, 2009 the
year of crisis, then 2010 was the year of recovery
and of austerity measures. The latter, in particular,
highlighted disagreements and caused a certain
degree of tension between the social partners in
Luxembourg. The failure of the tripartite negotiations
was the result of diverging views on the
economic state of the country and the measures
that are necessary to put Luxembourg back on
the road of sustainable recovery.
Defending the interests of employers in the financial
sector, the ABBL regularly communicated on
these and other related issues in the press. In his
role as Vice-Chairman of the employers’ association
UEL and representing financial sector employers,
ABBL Chairman Ernst Wilhelm Contzen
thus had to give a great deal of interviews and
statements to the national press on the matter.
19 July 2010
Mc Kinsey European Private Banking Study 2010:
Luxembourg experienced significant outflows of 5%
in 2009 because of its focus on Western European
money. Despite this, private banks in Luxembourg
continue to be Europe’s champion in terms of
profitability with a profit margin more than twice
the European average.
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