The evolving TMT (Technologies, Media and Telecommunications) sector in Luxembourg
Linklaters Luxembourg explores challenges and opportunities for finance and technology with clients
On 6 February 2014, Linklaters Luxembourg hosted its annual reception. This year’s event (following previous events dealing with BRICs, the Middle East and the internationalisation of the RMB) was dedicated to the impact that technology can ultimately have on traditional finance, on existing business models and on financial services.
In a panel discussion titled “Technology challenging Finance: how Luxembourg can support two winners” introduced by managing partner Freddy Brausch, Patrick Geortay (partner, capital markets and banking), Nicolas Gauzès (partner, corporate/M&A) and Olivier Reisch (managing associate, IP/TMT), explored the digital dimension of finance. The speakers looked at the emergence of data as a new asset class, at the opportunities and challenges of a rapidly changing environment, at new infrastructures and at innovative payment systems. A particular focus was laid on data protection issues in a context of loosening banking secrecy, on the striking development of crypto-currencies and the many questions and regulatory concerns that arise therefrom.
The discussion was followed by a presentation of guest speaker Joe Garner, a seasoned banking and technology professional, who shared his experience of a real case cyber story at a major financial services company with the audience, putting the issues addressed by Linklaters’ experts into a real-life context.
Click here to read the Magenta Wire – a slightly different look back at the evening.