On 4 December 2018, the ABBL’s Private Banking Group PBGL held its annual members’ meeting in presence of Claude Marx, Director General at CSSF and keynote speaker of the evening. Mr Marx shared the regulator’s perspectives on the development of the private banking industry in Luxembourg.
Pierre Etienne, Head of the PBGL, outlined the PBGL’s strategic priorities of the coming year:
- Digital Private Banking
- Regulatory framework
- Appropriate Luxembourg Toolbox
- Media and Promotion
Camille Seillès, Secretary General at the ABBL, followed up on the latest domestic tax developments, relevant trends in international taxation, as well as developments in the fields of tax transparency and taxation of cross-border investment income.
Jean-Pascal Nepper, Partner, Management Consulting at KPMG & Nicolas Fedenko, Associate Partner at KPMG presented the preliminary results of the KPMG / ABBL study on digital private banking. The study takes a deep look at digitalisation efforts of private banks in Luxembourg, with particular emphasis on client interaction and taking.
Fabio Mandorino, Adviser at the ABBL, then shared the latest facts and figures of the private banking business in Luxembourg and a look to the future, followed by Jeff Mouton, Head of the ABBL IAM (Independent Asset Managers) working group, presenting the results of the second edition of the CSSF / ABBL IAM Survey covering the main statistics and the Luxembourg market overview.
The KPMG study will be available at the end of January 2019.
The ABBL would like to thank all PBGL members and friends of PBGL for their active participation. A special thanks to ING for hosting the PBGL Annual Members’ Meeting 2018.
By Fabio Mandorino, Adviser – Commercial Banking | Private Banking | Sustainable Finance, ABBL