Annual Report - paperJam
Annual Report - paperJam
Annual Report - paperJam
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Getting a grip on Luxembourg private banking<br />
business intelligence continued to be a<br />
major building ground in 2010. In this context,<br />
the Statistics working group repeated<br />
its yearly data collection exercise in cooperation<br />
with the “Commission de Surveillance du<br />
Secteur Financier” (CSSF) and PBGL member<br />
banks. This yearly exercise is conducted in<br />
order to obtain reliable statistics on the weight<br />
of the Luxembourg private banking industry.<br />
Furthermore, three editions of the Luxembourg<br />
Private Banking Cockpit were published in 2010.<br />
The Luxembourg Private Banking Cockpit is an<br />
inventory of statistics on Luxembourg private<br />
banking, international rankings, as well as industry<br />
trends identified by local and international<br />
consultancy firms. The document is available for<br />
download on the ABBL website. Cooperation<br />
with the Luxembourg School of Finance (LSF)<br />
was finally put on good track and should bear<br />
its first fruits in 2011.<br />
Promotion efforts were another major focus in<br />
2010. The PBGL’s Promotion working group, for<br />
instance, assisted Luxembourg for Finance with<br />
the definition and execution of private banking<br />
promotion efforts. Luxembourg private banks<br />
participated in numerous economic missions<br />
or events organized by LFF, and senior financial<br />
centre figures continuously participated in panels<br />
on Luxembourg wealth management organized<br />
in this context.<br />
The Wealth Planning working group dealt – in<br />
coordination with the Fiscal Affairs Committee of<br />
the ABBL – with national and international legal<br />
issues, mainly in connection with G20, OECD<br />
and ECOFIN decisions and initiatives. Intense<br />
lobbying activities in the form of advocacy, meetings<br />
and presentations on national and international<br />
level, as well as input to ABBL opinion<br />
papers should be mentioned in this context.<br />
GEOGRAPHIC ORIGIN LUXEMBOURG PRIVATE BANKING CLIENT ASSETS<br />
17%<br />
18%<br />
Luxembourg<br />
Belgium, France<br />
& Germany<br />
19%<br />
Other European<br />
countries<br />
46%<br />
Other countries<br />
(non European)<br />
8 September 2010<br />
Luxembourg and Portugal sign a protocol amending<br />
the existing double taxation agreement.<br />
9 September 2010<br />
Luxembourg slightly increases its position from 19 to 20 in terms<br />
of global competitiveness in the World Economic Forum ranking.<br />
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