The LHoFT is a new and exciting public-private sector initiative that will be dedicated to advancing Luxembourg’s fintech ambition. Its founding private sector partners are: BGL BNP Paribas, Clearstream (Deutsche Börse Group), BCEE, Deloitte, KPMG, POST Luxembourg, Six Payment Services, PwC, Société Générale and Telindus (Proximus Group). The other partners of the initiative are the Chamber of Commerce, the City of Luxembourg and the University of Luxembourg.

The LHoFT aims to foster innovation and develop solutions that shape the future of financial services. It will connect and create value for the entire Luxembourg fintech ecosystem; financial institutions, fintech trailblazers, IT industry, research and academia as well as the regulatory and public authorities. In his capacity as CEO, Nasir will spearhead the development and implementation of the LHoFT’s strategy by working together with key stakeholders from Luxembourg’s financial community.

Pierre Gramegna, Minister of Finance for Luxembourg states, “Luxembourg is a leading financial centre in the European Union. As such, it is vital that we continue to drive innovation for the benefit of our local financial community as well as for the other financial centres we do business with.”

Mr Gramegna continues, “Fintech is critical to the evolution of financial services and thus merits a dedicated unit to manage its successful development in Luxembourg. I am very pleased that Nasir Zubairi will lead the LHoFT.”

Nasir Zubairi has worked in financial services for nearly 20 years within both traditional institutions such EBS, ICAP, RBS and HSBC, as well as fintech firms such as The Currency Cloud and the company builder, Finleap. He has hands-on experience across many areas of finance and of building fintech startups.

Nasir comments “I am excited to be working with the stakeholders in the Luxembourg community to progress fintech innovation. Luxembourg has great potential for fintech thanks to its concentration of knowledge, resources and firms, its accessibility, its welcoming business environment and its robust, consultative, regulatory environment. The LHoFT will help Luxembourg institutions take the lead in digital transformation within areas such as regtech, payments, insuretech and blockchain.”

Nicolas Mackel, CEO of Luxembourg for Finance, the Agency for the development of Luxembourg’s financial industry, adds, “Nasir’s appointment as CEO comes after a lengthy and intensive vetting process. We are very confident that he will achieve the objectives of the LHoFT.

Leading fintech firms from the US, Japan, China, and other countries have already established or are looking to set up their European headquarters in Luxembourg. The LHoFT will help them and others to access and benefit from the Luxembourg and international fintech ecosystem.”