#55 How to preserve Luxembourg's competitive edge | François Pauly

LuxUnplugged Podcast

Adrien welcomes François Pauly, Group CEO at Edmond de Rothschild (EdR), to the show. A veteran Luxembourgish business leader, François was recently entrusted with the task of heading up EdR after having spent a number of years within the group as a non-executive board member. Adrien enquires about the roots of the Geneva-based Rothschild organisation and how this well-known financial dynasty has established itself over many generations as a global powerhouse, not only in wealth management or corporate finance, but also in the wine industry and agriculture business. Then, in his capacity as a non-executive director within many Luxembourg-based companies across many sectors, François is uniquely positioned to outline the various trends that have taken place over the last few years, especially with changing demographics and a greater housing need. Whilst the grand duchy has recorded economic growth rates dwarfing the European average, François also points out the weaknesses that should be monitored and acted upon such as the automatic wage indexation mechanism that weighs on the overall competitiveness compared to its neighbours. Finally, they discuss a number of solutions that would allow Luxembourg to retain its edge and still attract young talent to the country.