Annual Report - paperJam

9.
Luxembourg for Finance
Luxembourg for Finance (LFF) is the agency
for the development of the financial centre. In
this role, LFF supports the Luxembourg financial
services industry by creating a strong brand
image for the financial centre, engaging in bilateral
discussions with third party countries and
encouraging new business in Luxembourg.
2010 was a year of recovery and evolution in the
financial centre. Assets under management in
investment funds rose to new all time records,
while the private banking industry was publicly
engaged in redefining its role as the provider of
sophisticated wealth management services to
clients with a multinational profile. LFF supported
this evolution by promoting the international image
of the financial centre and providing a port of call
for actors contemplating projects in Luxembourg.
During the year LFF held financial seminars in
16 cities around the world, reaching over 2,240
participants. Many of these missions were
enhanced by the presence of the Minister of
Finance, Luc Frieden or the Minister of the
Economy and Foreign Trade, Jeannot Krecké,
who were able to strengthen bilateral relationships
with the country concerned.
LFF represented the financial centre at nine trade
fairs during the year, including the Asian Financial
Forum in Hong Kong, GAIM in Monaco, MIPIM in
Cannes, the World Islamic Banking Conference
in Bahrain and the Captive Live Europe fair in
Luxembourg.
Closer to home, the communications team was
active throughout the year, writing 118 articles for
the website and engaging in conversation through
social media such as Facebook, LinkedIn, Viadeo
and Xing. Joint projects with media partners
26 October 2010
AIFM: The EU Parliament and the Council of Ministers
reach an agreement which will introduce European
regulation for the managers of alternative investment
funds, including hedge funds and private equity.
The EU Commission sets out its plan for a framework
for crisis management in the financial sector. No entity
should be “too big too fail”.
27 October 2010
Luxembourg ranks 11 th in Transparency International’s
2010 global Corruption Perceptions Index (CPI),
a measure of domestic, public sector corruption.
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