ABBL
Association des Banques et Banquiers, Luxembourg
The Luxembourg Bankers' Association
Luxemburger Bankenvereinigung
Private banking lies at the heart of Luxembourg’s vibrant economic landscape and has played a key role in driving cross-border banking. It has contributed to Luxembourg’s attractiveness and competitiveness and plays a key role in maintaining and revitalizing the local banking industry.
Created in 2007, the Private Banking Group Luxembourg (PBGL) is a group of members of the Luxembourg Bankers’ Association specializing in private banking. As such, it is referred to within the association as a “cluster”, along with the Retail Banking Group (RBG) and the Depositary Bank Forum.
Why a Private Banking Group Luxembourg?
Simply put, Luxembourg accounts for 6% of the world’s entire private banking business. It’s a strategic sector for the country and a top priority for maintaining Luxembourg’s leadership in a fast-changing financial and economic world.
With such leadership comes responsibility:
- Responsibility for the sector to ensure it stays at the forefront of banking solutions in general,
- Responsibility for Luxembourg as one of the world’s premier banking centers,
- Responsibility for members to ensure that those that work in this industry have the training required to stay abreast of changes and developments driving the business – and to ensure that industry best practices are accessible and shared,
- Responsibility for the broader community to ensure that we are setting ethical standards.
Missions
• To unite ABBL members operating in the Wealth Management sector,
• To represent specific private banking interests within the ABBL and define, as part of the general policy of the ABBL, the initiatives and activities to be undertaken to best serve the interests of private bankers in the country,
• To develop qualifications and heighten professionalism in the field of private banking through training and by the promotion of standards, best practices and ethical standards.
Today the PBGL includes 52 members. Working with key association partners within the ABBL, the PBGL strives to promote private banking industry’s positions on key banking developments and issues within Luxembourg and internationally, such as international mobility, Client privacy and the future of private banking in a fast-changing international, market and regulatory environment.
Governance
The Head of the PBGL is Mr. Luc Rodesch (Banque de Luxembourg) and its Vice-Heads are Mr. Patrice Crochet (BGL – BNP Paribas) and Dirk Adriaenssens (ING).
Executive Bureau members are appointed for a two-year mandate. To ensure ongoing governance, the Executive Bureau holds sessions on a monthly basis for follow-up on all key issues.
The Executive Bureau also lends operational support to the PBGL from Banque de Luxembourg, BGL-BNP Paribas & ING on a needs basis.
Working Groups are an important element in ensuring sound governance and service on the part of the PBGL.
Today’s Working Groups include:
• Quality Statement
• Advisory Panel
• Statistics
• Training
• Wealth Planning
• Residence/Welcome to Luxembourg
• Promotion
The Advisory Panel, includes representatives from the private banking community, the "Big Four", law firms, as well as private banking and related sectors (such as Insurance) and has the following mission:
to provide advice on strategic private banking related issues defined by the PBGL Executive Board within the context of the ABBL policy and as detailed in the PBGL’s rules of incorporation.
The Advisory Panel meets quarterly and discusses such topics as: private banking strategy 2020, strategic repositioning initiatives, ethics, ...
Internal Rules of PGBL
Promoting private banking
To fulfill its mission of informing all stakeholders of the latest in private banking and to convey our positions on key issues, the PBGL serves as a resource center, producing studies, statistics and position papers on key issues and developments in the industry.
We invite you to consult any one of our current publications:
Cockpit: a vast collection of key statistics and information on today's global private banking sector.
PGBL Strategic Plan: available to members only, this document presents a five-year vision for the development of private banking in Luxembourg. This Strategic Plan may be requested on demand.
Private banking strategy
Luxembourg private banking has the benefit of a tight-knit, cosmopolitan member base that understands that the key to developing private banking is to serve the client. Luxembourg private bankers therefore adhere to a strategic vision that is realistically in line with the current international climate and opportunities identified by the Private Banking Group Luxembourg. The vision encompasses three dimensions:
• Servicing excellence based on constant innovation in suitable and appropriate structures as well as evolving client needs,
• Dedication to serving the upper segments of international clients with multi-jurisdictional interests,
• Increasing responsibilities in international private banking development within banking groups to which Luxembourg private bankers belong, as well as contribution to the definition of new standards that regulate the profession.
The key to success lies in being supportive of the needs and challenges of the private banking industry in Luxembourg, via training, opinion building, working groups, position papers and other tools.
Articles
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24/01/2012
Ce lundi 23 janvier 2012, 17 nouveaux candidats ont reçu le diplôme « IFBL Certified Private Banker », la première qualification professionnelle en Private Banking au Luxembourg décernée conjointement par l’IFBL et le Private Banking Group, Luxembourg de l'ABBL.
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14/12/2011
Luc Rodesch, Head of the ABBL's Private Banking Group, on changing client profiles, "Rubik", and future challenges and opportunities for the Luxembourg private banking industry.
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09/12/2011
Over 160 people attended the conference "Private Banking 2020" organized by the ABBL’s Private Banking Group, Luxembourg (PBGL) on 8 December 2011. Luc Frieden, Minister of Finance, was the keynote speaker of the evening. Minister Frieden drew up a "portrait" of the financial crisis and its consequences for our financial centre.
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17/10/2011
Singapore was the first stop of the Luxembourg for Finance mission to Asia, led by finance minister Luc Frieden. Ernst Wilhelm Contzen, chairman of the Luxembourg Bankers' Association, made a keynote speech. Addressing 250 attendees in a packed auditorium, he said that because we live in uncertain times, ultra high net worth individuals need stable financial centres like Luxembourg or Singapore. In an interview with LFF, Mr Contzen speaks about mutual interests and the challenges both centres are facing.
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21/09/2011
PwC Luxembourg vient de présenter les résultats 2011 pour le Luxembourg de son étude intitulée cette année "Anticipating a new age in Wealth management" consacrée à la banque privée et à la gestion de patrimoine. Les banques luxembourgeoises participantes à l’édition 2011 représentent 40% des avoirs des banques privées au Luxembourg et couvrent la diversité des différents « business models » présents sur la Place.
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28/06/2011
In order to further promote and develop the Private Banking training offer in Luxembourg, the Private Banking Group has teamed up with the Luxembourg School of Finance (LSF) in order to set up an international master’s degree in Wealth management.
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22/06/2011
Le 20 juin 2011, le Private Banking Group, Luxembourg (PBGL) a tenu son Assemblée générale annuelle. Durant cette manifestation, le Groupement des banquiers privés a présenté ses actions réalisées pour 2010-11 ainsi que ses ambitions futures à ses membres.
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08/03/2011
Ce lundi 7 mars 2011, 14 nouveaux candidats ont reçu le diplôme « IFBL Certified Private Banker », la première qualification professionnelle en Private Banking au Luxembourg décernée conjointement par l’IFBL et le Private Banking Group, Luxembourg. De même, pour la première fois à Luxembourg, 10 candidats se sont vu délivrer le certificat « Certified International Wealth Manager » (CIWM).
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08/02/2011
4 ans APRès sa création, le Private Banking Group, Luxembourg (PBGL), présidé par Luc Rodesch, a tenu à réunir ses membres à l'occasion d'un "PBGL meets members" afin de les informer sur l'évolution de leurs fructueux travaux et de dresser un bilan sur les récentes initiatives prises en matière de banque privée, mais surtout d'aborder la stratégie future à déployer en vue de promouvoir davantage les activités de banque privée à Luxembourg.
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17/06/2010
En date du 15 juin 2010, le Private Banking Group, Luxembourg (PBGL), groupement de l’Association des Banques et Banquiers, Luxembourg (ABBL) fédérant les banquiers privés de la place, a tenu son Assemblée générale annuelle. Cet événement, rassemblant les banques privées membres, a été l’occasion de passer en revue les réalisations du secteur et de présenter ses ambitions pour l’avenir. Dans un contexte bancaire mondial en forte évolution, le Luxembourg a entamé en 2009 une réflexion sur le futur de son industrie. Organisés en groupes de travail spécialisés, les membres du PBGL ont consolidé leur vision du secteur et de ses enjeux. Fort de cette réflexion, le groupement transforme aujourd’hui son analyse en pistes d’actions concrètes.
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Private banking: Issues and trends
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