Europe’s financial competitiveness is at a crossroads. According to a new report from OMFIF, commissioned by Luxembourg for Finance, Europe’s banks and asset managers have lost significant ground compared to their US and global peers over the past 15 years.
The report reveals troubling declines across key indicators:
– Fifteen years ago, the total market capitalisation of Europe’s banks was close to double that of US banks. Today, total US market cap is twice that of Europe’s.
– In asset management, Europe’s institutional investors represented 47% of the top 100 global firms by assets under management.
– In 2022, they accounted for just 22% of AuM, compared to 70% for US fund managers.
Europe’s banks and asset managers, with the support of the region’s politicians and regulators, must seize an opportunity to close the ‘competitiveness gap’ with their peers in the US and the rest of the world.
For further information on the report, viewers please contact: LFF: Jonathan Westhead, Head of Communications, LFF jonathan.westhead@lff.lu
OMFIF: James Fitzgerald, Deputy Head of Events and Marketing, OMFIF james.fitzgerald@omfif.org In partnership with:
