GFCI 28: Luxembourg financial centre ranked number 1 in the EU
Luxembourg has once again been ranked as a leading European and global financial centre according the latest edition of the Global Financial Centres Index 28.
The leading position of Luxembourg within the EU in the index reflects the international financial centre’s stability and expertise, especially during times of crisis.
Luxembourg has moved up 6 places in the overall index, now ranking as the 12th financial centre globally. The country remains the largest investment fund centre in Europe, second largest in the world, and the leading global fund distribution hub. Furthermore, the Grand Duchy is committed to financing a sustainable future, connecting businesses of today with the needs of tomorrow’s economy. Indeed, the country is ranked as the 2nd financial centre worldwide by the Global Green Finance Index according to the GGFI 5, reflecting the quality and depth of green finance within the Grand Duchy, a key priority for the EU.
Luxembourg continues to serve as a global hub for cross-border finance, with leading international traditional and alternative asset managers, banks and insurers serving the European Single Market. The country has shown its strength in this space, with more than 60 financial institutions selecting the Grand Duchy as their post-Brexit gateway to the EU single market.
Commenting on this new ranking, Nicolas Mackel, CEO of Luxembourg for Finance, said that “it is a recognition of the increasingly important role Luxembourg’s financial expertise is playing today and will be playing in the future. The current crisis underlines the need for a continued free flow of capital to connect investors with projects with a view to bringing back growth and creating jobs. Luxembourg’s added-value lies exactly in building these bridges.”
The GFCI is published by Z/Yen Partners in collaboration with the China Development Institute and is the world’s most recognised comparison of the competitiveness of global financial centres.