In a recent interview, Luxembourg for Finance CEO Tom Théobald praised the resilience and significance of Luxembourg's financial centre, describing it as essential to the country's economic performance.
In an interview with our colleagues from RTL Radio on Tuesday morning, Tom Théobald, the new CEO of Luxembourg for Finance, highlighted the growth and resilience of Luxembourg's financial centre. Théobald described the sector as well-established, diversified, and crucial to the country's economy.
Théobald emphasised that the financial centre has demonstrated remarkable resilience in challenging times. It now represents "a quarter" of the Grand Duchy's economic output, making it "the engine of our economy" and significantly contributing to national prosperity. The sector employs 70,000 people directly, with 135,000 jobs depending on it either directly or indirectly.
Théobald noted that Luxembourg's financial centre is built on a "solid base," is "not monolithic," and relies on numerous pillars. He praised the sector's capacity for innovation and adaptability. Looking ahead, Théobald stressed the importance of attracting talent from outside Luxembourg and the Greater Region, as the local recruitment pool "is no longer sufficient."
By 2034, Théobald envisions a financial centre that is more digitalised, sustainable, and makes greater use of artificial intelligence.
