Statements and interviews

Final report of the ALFI Madoff Task Force: In December 2008 ALFI the Association of the Luxembourg Fund Industry (ALFI) set up the Madoff Task Force, with three objectives: to identify weaknesses in governance or legislation, to analyse the role played by any Luxembourg actors concerned in the affair and to make recommendations for detecting fraud in the future. In its Final Report, the Madoff task force makes a number of recommendations which have already been adopted by ALFI.
Sacred Heart University: Sacred Heart University of Fairfield, Connecticut, has been offering an MBA programme through its Luxembourg campus since 1991. More than 300 graduates have since taken advantage of the option to follow in programmes as a full time or part time student. Through the John F Welch College of Business, SHU is now offering a range of graduate certificate programmes in corporate finance, global investments and leadership. Luxembourg for Finance interviewed Dr Petra Garnjost, director of Sacred Heart University, Luxembourg Campus.
Luxembourg School of Finance: In June 2009 the financial trade associations ABBL and ALFI organised a brainstorming session with the University of Luxembourg and the Luxembourg School of Finance. The purpose was to have an exchange of views between practitioners and the world of academia for possible future scientific research projects. Luxembourg for Finance interviewed Professor Dr Christian Wolff, Director of the Luxembourg School of Finance, on the outcome of this workshop.
Diversification is the key: “Relying on expertise, building on innovation” is the leitmotiv of the Luxembourg financial centre. The recently appointed new government’s strategy to further develop the country’s financial sector reflects this motto. In this short feature, minister of Finance Luc Frieden talks about how he plans to contribute to the widening of the centre’s product and client base.
Exchange of information: In his opening speech at the spring conference of the Association of the Luxembourg Fund Industry (ALFI), Luc Frieden, minister of the Treasury and Budget, in charge of the financial centre, explained the Government’s decision to fully adopt the standards of the OECD Model Tax Convention. The Luxembourg Government insists that the exchange of information, as defined by the OECD, be adopted as the sole standard within the European Union.
Interview Charles Hamer: Charles Hamer, Chairman of the Private Banking Group, Luxembourg, explains the particularities of Luxembourg as a private banking centre and the obligations of private bankers towards their clients in the current difficult environment. He goes on to explain that expertise in financial engineering will continue to underpin the growth of the private banking industry in Luxembourg as it adapts to developments over the coming years.
Interview Claude Kremer: Speaking at the 17th ALFI & NICSA Global Investment Funds Forum, Claude Kremer, Chairman of the Association of the Luxembourg Fund Industry, explains the advantages of Luxembourg as the premier European centre for investment funds and its role as a laboratory in the development of laws to meet the specific needs of this industry.
Interview Luc Frieden: Luc Frieden, Minister of the Treasury and the Budget, describes the characteristics and strengths of the Luxembourg financial centre and the government’s priorities with regard to its future development and the protection of investors.