(L-R) Stephan Leithner, Deputy Chairman of the Executive Board of Deutsche Börse AG; Gilles Roth, Luxembourg's Minister of Finance;
Credit: MFIN
On Thursday 27 June 2024, Luxembourg’s Minister of Finance, Gilles Roth, went on a working visit to Frankfurt am Main together with the development agency for the financial centre, Luxembourg for Finance (LFF).
In addition to bilateral talks with various banks, the minister took part in a roundtable discussion with representatives of the Frankfurt financial centre.
At the subsequent networking reception hosted by Luxembourg for Finance at Deutsche Börse, Gilles Roth emphasised the good relations between Germany and Luxembourg: "We are good neighbours and close partners. We share many priorities and defend the same principles, even when it comes to the Capital Markets Union. All major German financial institutions are represented in Luxembourg. The Grand Duchy is a complementary centre for them in areas such as funds and asset servicing, private banking and corporate banking."
Germany is one of the most important markets for the Luxembourg financial centre, Luxembourg’s Ministry of Finance noted. German fund promoters represent 15% of assets under management in the Luxembourg fund industry, ranking third after the US and the UK, according to the ministry.
Minister Roth concluded: "I firmly believe that Frankfurt and Luxembourg, as leading financial centres, will play a key role in making the EU economy more competitive, innovative and sustainable."
