ABBL Chairman Yves Stein speaks on the future of private banking in Luxembourg.
Luxembourg private banks are under pressure. Costs are skyrocketing, regulations are becoming stricter and a shortage of talent threatens competitiveness. According to Stein, digitization and automation are crucial to working more efficiently, but many banks are lagging behind larger, universal players. The question is not if, but how quickly the industry can adapt to remain relevant in an increasingly competitive market.
Find a related Investment Officer article at https://www.investmentofficer.lu/en/news/yves-stein-underlines-need-private-banks-innovate
This interview was recorded at the inaugural Investment Officer Boardroom lunch in Luxembourg in February 2025. Find more videos related to that event at https://www.investmentofficer.lu/en/events/navigating-change-whats-next-luxembourgs-wealth-sector.