On 21 May 2026, at the launch of the EY Luxembourg Attractiveness Survey 2026, leaders from across the public and private sectors came together to reflect on the country’s economic outlook and its positioning in a changing European landscape. The event featured a high-level panel presented by Alban Aubrée, Ernst & Young (EY) Luxembourg Country Managing Partner, with the participation of Stacey Feinberg, US Ambassador to Luxembourg, Luc Frieden, Luxembourg Prime Minister, and Jeffrey Dentzer, CEO of Banque Internationale à Luxembourg (BIL).
Within this discussion, BIL contributed the perspective of the financial sector to a broader conversation on competitiveness, transformation and long-term growth.
The debate took place at a time when investment trends across Europe are evolving. While foreign direct investment has recently slowed due to global uncertainties, long-term confidence in Europe remains intact. This creates a more complex environment, where countries like Luxembourg must continue to adapt to remain attractive to international investors.
Against this backdrop, the event highlighted that Luxembourg is entering a new phase of development. Beyond its traditional strengths, stability, openness and a strong financial centre, the focus is increasingly on innovation, value creation and the ability to anchor strategic activities locally
Towards Greater Alignment Across the Ecosystem
A recurring theme throughout the event was the value of open dialogue between public authorities, regulators and private actors. Luxembourg has long benefited from close cooperation across stakeholders, and this remains a key strength as new challenges emerge.
During the panel, Jeffrey Dentzer addressed the implications of ongoing transformation within the financial sector, where technological change is reshaping banking activities and requiring institutions to evolve their operating models.
This transformation presents both challenges and opportunities. For banks, it is not only about adopting new tools, but also about rethinking processes and improving the way institutions work together.
This type of alignment is particularly important in areas such as artificial intelligence and digitalisation, where fragmentation can slow progress and increase costs. A more coordinated approach can help accelerate innovation while maintaining the robustness and trust that underpin Luxembourg’s financial centre.
Maintaining and deepening this dialogue will be essential, not only to respond to immediate pressures, but also to shape a clear and consistent direction for the future of the financial sector. Luxembourg's financial sector cannot remain globally competitive if every institution continues to build the same capabilities independently. The cost of doing so is too high, the talent pool is too constrained, and the regulatory complexity is too deep. What is new is the conviction that we cannot do any of this alone, and that admitting as much is not weakness: It is strategy. Therefore, the question before Luxembourg's banks is not whether the landscape is changing, but whether we have the courage to change with it, and the wisdom to do so together.
Jeffrey Dentzer
Beyond operational efficiency, this collaborative mindset also supports Luxembourg’s broader competitiveness. It enables the country to present a more coherent and attractive environment to international investors, reinforcing its reputation as a reliable and forward-looking financial hub.
Looking Ahead
The debate made clear that Luxembourg’s attractiveness cannot be taken for granted. In a more competitive and uncertain global environment, sustaining it will require continuous adaptation and collective effort.
BIL’s participation in this exchange reflects its engagement in these broader discussions and its commitment to contribute to the evolution of Luxembourg’s financial ecosystem.
Alongside other stakeholders, the bank is part of a shared effort to ensure that the country continues to offer a strong and sustainable environment for investment, talent and long-term value creation.
