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Luxembourg is rapidly adopting the US trend for employing independent directors, to the point of it becoming a profession in its own right.

The Luxembourg financial services’ regulator, the Commission de Surveillance du Secteur Financier (CSSF), is encouraging the practice as independent board members guarantee good governance and look after the interests of investors.

Engaging an independent director also offers the fund access to additional competencies beyond those available in-house.Michèle Biel, Head of Conventum Third Party Solutions, BLI - Banque de Luxembourg Investments

A win-win relationship

Diversity on the Board of Directors enriches debates and is a determining factor in the proper management of an investment fund. Having a local director is also a real asset for maintaining contact with the authorities and providing knowledge of specific local regulations.

Read the full article with Michèle Biel, Head of Conventum Third Party Solutions, BLI - Banque de Luxembourg Investments, published in this month's Paperjam supplement.

 
Michèle Biel
General Manager

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