Yves Maas and Serge de Cillia, Chairman and CEO of the Luxembourg Bankers’ Association have represented the Luxembourg banking sector during this week’s state visit to Japan, led by H.R.H. the Grand-Duc.
During the visit Mr. Maas and Mr. de Cillia have been welcomed by the Japanese Bankers Association represented by Mr. Shin Takagi, Vice Chairman & Senior Executive Director, and his team.
The ABBL members Bank of China, ING Luxembourg, Luxembourg Stock Exchange, Deloitte, Arendt & Medernach, and E&Y have further strengthened Luxembourg’s business delegation, led by the Luxembourg Chamber of Commerce. Our partners ACA, Alfi, the Interdisciplinary Centre for security, reliability and trust (SnT) and Luxembourg for Finance (LFF) have also been part of the delegation. During the visit LFF has signed a Memorandum of Understanding between the LHOFT and the Japan Fintech Association.
Japan and Luxembourg have a long-standing relationship which has been officially established in November 1927 with the presentation of the letters of credence of the first Ambassador of Japan to Luxembourg. Exchanges between our two countries have been regular both on political and commercial level.
Currently, six prestigious Japanese banks have a presence in Luxembourg: Nomura Bank (Luxembourg) S.A., Mitsubishi UFJ Global Custody S.A., Mizuho Trust & Bank (Luxembourg) S.A., SMBC Nikko Bank (Luxembourg) S.A., Sumitomo Mitsui Trust Bank (Luxembourg) S.A., and Rakuten Europe Bank S.A.
Services provided by Japanese banks established in Luxembourg are manifold and include custody services, fund administration, securities lending, forex, treasury services, securities and cash assets management, as well as e-commerce and FinTech.
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