On Tuesday, Deloitte Luxembourg celebrated the eleventh edition of its annual forum for the Italian business community in Luxembourg at D Square, the firm's new headquarters in Cloche d'Or.
The event, which attracted a prominent, Italian-speaking audience, was organised in collaboration with the Italian Chamber of Commerce in Luxembourg and the Bocconi Alumni Association. The Italian Ambassador to Luxembourg was also present.
Marco Crosetto, Audit Partner and Italian Business Community Leader at Deloitte Luxembourg opened the conference, followed by Claudio Zucca, Chapter Leader of the Bocconi Alumni Association in Luxembourg, and Fabio Morvilli, President of the Italian Chamber of Commerce in Luxembourg.
In his opening speech, Marco Crosetto explained: "This conference has become a traditional venue for the Italian business community in Luxembourg and represents a significant opportunity for people to gather together, exchange ideas, and share views on current market challenges". He continued: “The strength of this event exists in its possibility to cover different topics of major relevance to Italian professionals in Luxembourg. It is a privilege for us to welcome our clients and friends in our new offices this year”.
The pervasive effect of digitalisation
Keynote speaker Andrea Pezzoli, General Director for the Competition at AGCM, the Italian Competition Authority, then emphasised how digitalisation is posing significant challenges to competition in the market and gave insight into how public authorities could act to establish a level playing field. He provided his point of view on the changes brought to consumers’ life by digitalisation and globalisation, explaining how personal data represents a new payment means for many services. He also stressed that, in his opinion, innovation is the healthiest way to compete.
Francesca Messini, Director at Deloitte Luxembourg, subsequently focused on FinTech innovation and how it is disrupting the financial landscape and its position as a game changer at a global level. She recalled that both Italy and Luxembourg are working to provide a fertile platform to support this innovation process.
For his part, Gianfranco Mei, Director at Deloitte Luxembourg, emphasised the importance of risk assessments as a critical step in the development of companies’ strategic plans and governance: “Regulators have changed the approach of their inspections. They expect regulated entities to define their operation model and governance based on identified/assessed risk exposures and not just on ‘one-fits-all’ regulatory requirements and strategies”.
The conference also offered a detailed update on recent developments within the fiscal landscape in Luxembourg and in Italy, which were provided by Raffaele Rech, Partner at STS Italia, and Eric Centi, Partner at Deloitte Luxembourg.
The Italian Business Community at Deloitte Luxembourg
The Deloitte Italian business community was created in response to the particular needs and requirements of the growing Italian business activity in Luxembourg. It closely follows the Luxembourg and Italian market trends and regulatory landscape to help its members navigate and grow in both markets.