How Legal & General Corporate Governance Leaders Are Building the Right Talent Mix for Organisational Resilience

ATAD 3 - a looming EU draft tax directive - a must read if you aren't yet aware.... ATAD 3, an EU wide anti-tax avoidance directive which is set to be ratified by the European Parliament during the summer of 2023, and is expected to be effective as of early 2024 across all EU member states. Its a noteworthy piece of legislation that may well make quite an entrance into the Luxembourg funds and corporate holding context. ATAD 3 aims to tackle anti-tax avoidance measures and will have a particular focus on substance of concerned entities. Tests to determine whether an entity can demonstrate sufficient substance are thought to have potentially seismic shifts in how managers will be required to structure their Luxembourg holding structures in such was as to avoid triggering tax liabilities under these potential new rules. We foresee the out-workings on the Luxembourg labour market being impacted in a several potential ways: Changes in corporate structures: ATAD 3 could require companies to restructure their operations requiring them to have far greater more substance in Luxembourg. This could involve moving employees from other locations to Luxembourg, or hiring new local employees to meet the substance requirements. This could potentially lead to an increase in demand for skilled professionals in certain sectors and thus likely creating further talent shortages in other existing traditional areas. Impact on the overall economy: The implementation of ATAD 3 could be both a positive and negative on the overall economy in Luxembourg. Historically greater regulatory or substance pressures have tended to aid Luxembourgs employment market, however this is a delicate balance and could where percieved draconian measures could in fact damage the competitiveness of the unique dynamics of the Lux market. Increased demand for tax experts: ATAD 3 introduces new and complex rules to prevent tax avoidance. This will invariably lead to an increased demand for tax advisory. New tax legislation for some is always a good thing. Overall, the impact of ATAD 3 on the Luxembourg funds and corporate industry is likely to be significant, as many funds operate on a cross-border basis and may be affected by the new rules on hybrid mismatches and interest limitation. However, Luxembourg has a strong reputation as a fund domicile and flexible corporate domicile known for its expertise in tax-efficient structuring. As such, industry is likely to adapt to the new rules and continue to be an attractive destination for managers and investors alike. Happy to brainstorm this further with anyone that might also be interested in the topic! First Published Feb 2023 AGEFI Courtney Charlton

Attracting Talent: The Power of The Candidate Journey Whilst a slowdown in many employment sectors of Luxembourg has been observed in recent months, the labour market remains fiercely competitive. Might now be the moment for employers to take stock of their competitiveness as being an employer of choice? Reputational risk is a factor that we all too regularly underestimate as employers, yet it is a factor that has immense impact on a firms efficiency in being able to secure talent. In a market as incestuous as Luxembourg, there is no doubt that this a factor that can be decisive in achieving the most desirable outcomes for recruitment initiatives at all levels. The Long-lasting Impact of the Candidate Journey: The candidate journey encompasses the entire experience an individual has when interacting with a company, from the initial application to the onboarding process. However, in my observation many employers overlook this series of touchpoints and their lasting and critical nature. Failing to realise the impact these experiences have can adversely affect their reputation and by extension, their ability to attract talent in the longer-term. A firm that consistently delivers an unfavorable candidate journey risks tarnishing its organization's reputation, resulting in a widespread negative perception that deters potential candidates from considering employment opportunities. Much of our talent pool is international in its construct, social and well-networked. People love to relay their employment and interview experiences. Sentiment and anecdote whether they be positive or negative will likely be accentuated and are therefore hugely important factors of reference. For these reasons, a tarnished employer image usually spreads exponentially and with pace once it takes hold. Facts are often replaced with conjuncture and hear-say which nevertheless can build to gain significant momentum leading to either positive or negative outcomes. Tactics for Enhancing the Candidate Experience: It is crucial for employers to understand the significance of each touchpoint and create a positive and memorable experience throughout the candidate journey. Clear and Transparent Communication: Effective communication is key to building trust and maintaining transparency with candidates. Regular updates, timely responses, and clear expectations throughout the recruitment process foster a positive experience. Streamlined Application Process: Simplify the application process to minimize candidate frustration. Lengthy, convoluted hurdles and excessive documentation requirements can deter potential applicants and leave negative impressions. A user-resource-friendly and efficient process demonstrates respect for candidates' time and effort. Personalised Candidate Experience: Tailoring the recruitment journey to the individual can leave a lasting impression. Personalised interactions, such as sincerely engaging and acknowledging their specific skills and experiences, showcase a company's genuine interest in them. Positive Interviewing Experience: Conducting interviews in a respectful, engaging, and professional manner demonstrates a company's commitment to treating candidates with respect. Ensuring interviewers are well-prepared, asking relevant questions, and providing feedback can significantly enhance the overall experience. Constructive feedback: we all need this; not least when we have dedicated ourselves to a recruitment process and have not been successful. Pragmatic and non-personal feedback is always welcomed and highly appreciated. Consistent Employer Branding: Align the candidate journey with the company's employer brand. Ensure that the messaging, values, and culture conveyed during the recruitment process are consistent with the organisation's overall image. This consistency helps build trust and credibility. External partners: All parties that the firm interacts with have the potential to be local ambassadors. Your suppliers, partners and service providers are all potential employees as well as advocates. Treat your external counterparties as you would those internally. Recognising the significance of the Candidate Experience as a reputation building factor is paramount for companies striving to gain an advantage in a competitive talent market. By focusing on authenticity, prioritizing the employee experience, crafting a compelling employer value proposition, employers can become a employer of choice and attract top talent in Luxembourg's tight employment market. Courtney Charlton is the co-founder of Greenfield Luxembourg and the head of Executive Search. First published AGEFI Luxembourg June 2023

Corporate legal and governance teams are no longer confined to back-office compliance. These functions are now pivotal to strategic agility and long-term performance. Particularly in Luxembourg, a hub of cross-border investment and regulatory oversight, the spotlight has turned firmly onto how corporate legal and governance teams can support strategic resilience. Resilience demands operational flexibility, stakeholder trust, and cultural readiness. For legal and governance leaders, that means responding to a complex mix of Environmental, Social and Governance (ESG) obligations, investor expectations, and regulatory transformation. But doing so can be transformative. European businesses that are actively integrating ESG into commercial strategy are 40% more confident in their 12-month outlook and 1.5 times more likely to have effective sustainability-focused boards. Jump To: Regulatory Pressures Reshaping Governance Growing Investor and Stakeholder Expectations What Does Resilience Look Like Today? Corporate Legal Teams as Drivers of Enterprise Resilience How Greenfield Supports Legal Governance Resilience Regulatory Pressures Reshaping Governance Regulatory change is the major driver redefining the scope and influence of corporate legal and governance functions. Tighter regulations and stronger censure for compliance failures demands senior governance leaders have a comprehensive grasp of environmental, social, and governance metrics and their business implications. Luxembourgs transposition of the Corporate Sustainability Reporting Directive (CSRD), for example, embeds ESG reporting directly into national law. The CSRD increases the exposure and accountability of governance teams, whose leaders now must deliver timely, accurate, and meaningful disclosures around organisational sustainability. At the same time, the digitalisation of risk and regulation is accelerating. Firms are expected to monitor, manage, and disclose data across jurisdictions with greater precision and speed. This includes not only financial metrics but environmental and social performance indicators that carry reputational weight. Frameworks like DORA (Digital Operational Resilience Act) and MiCAR (Markets in Crypto-Assets Regulation) are strengthening digital governance and putting a stronger focus on ICT and cyber-resilience, further broadening the remit of legal and general corporate governance leaders. These, along with AML regulations have raised expectations for due diligence, transparency, and accountability, particularly when it comes to digital asset issuance, custodianship, and trading. For cross-border entities, this means enhanced reporting obligations and deeper scrutiny of ownership structures and financial flows. Each of these regulations contributes to an increasingly complex governance environment where non-compliance carries reputational, financial, and legal risk. For corporate law professionals in Luxembourg, these pressures are felt acutely. Growing Investor and Stakeholder Expectations Transparency and integrity in corporate governance practices are now baseline expectations. Investors increasingly assess governance structures as indicators of long-term viability and risk maturity. They expect timely, transparent disclosures that go beyond financial performance to include ESG, diversity, digital risk, and ethical practices.Boards, in turn, are demanding real-time insight and risk navigation that supports decision-making in an uncertain climate. There is heightened scrutiny around how governance functions contribute to strategic planning, reputational risk mitigation, and enterprise culture. Reputational risk has become a board-level issue, influenced by everything from ESG scoring and litigation exposure to executive accountability and cyber-readiness. The corporate legal function must now engage actively with the board, articulate the regulatory implications of strategic decisions, and ensure transparency at every level. To cope, models of governance must align with traditional duties. These emergent expectations, supporting proactive engagement, thereby enable evidence-based decision-making, and contribute directly to enterprise strategy. What Does Resilience Look Like Today? The paradigm has shifted from one of reactive governance to that of anticipatory leadership. Resilient governance is now about shaping outcomes, creating a strategic shield and a forward-looking advantage in a high-stakes environment. In short, resilience for corporate legal and governance teams means adaptability, proactivity, and relevance. Lets look at each of those in more depth. Adaptive Team Structures High-performing corporate legal and governance functions have redesigned their organisational models to reflect shifting regulatory priorities and skills shortages. Traditional hierarchies are being supplemented with flexible team configurations that can pivot in response to fast-changing requirements. ESG, cybersecurity, and cross-border legal compliance are now core areas of competence.To support these needs, leading teams are combining a stable core of permanent legal professionals with a network of on-demand experts sourced through immediate staffing solutions. This hybrid approach allows businesses to scale expertise precisely when and where its needed without compromising rigour or pace. Proactive Compliance and Engagement The governance role has evolved from passive monitoring to meaningfully shaping organisational strategy. Proactive compliance means anticipating regulatory shifts and embedding risk awareness into day-to-day operations. High-performing legal and governance teams track upcoming legislation and regulatory commentary, engage directly with regulators, and collaborate with internal stakeholders to model impact and scenario-test responses.This anticipatory approach enhances board-level readiness and fosters a culture of regulatory fluency across departments. Rather than reacting to enforcement trends or crisis situations, these teams position the organisation to stay ahead of the curve, minimising exposure and maximising agility in the face of disruption. Capacity for Change and Digital Integration Digital enablement has become essential for resilient legal and governance operations. RegTech solutions offer critical capabilities for monitoring compliance in real time, automating repetitive reporting tasks, and integrating governance workflows across jurisdictions. But the technology is only as effective as the culture surrounding it.Successful teams focus on change management as much as technical deployment, ensuring that tools are understood, adopted, and used to their full potential. Leaders are expected to champion these systems, bridging the gap between legal expertise and operational scalability. In doing so, they embed resilience not just in systems, but in mindset, positioning the legal function as a digital-first enabler of strategic decision-making. Corporate Legal Teams as Drivers of Enterprise Resilience Resilience begins in function but extends enterprise wide. Legal and governance teams, when structured for agility and empowered with the right talent, can catalyse a broader organisational capacity for change. Consider the dual-role many corporate legal and governance leaders now play interpreting complex legislation and guiding board-level response and protecting the business while advancing its strategic agenda. This requires fluency in:ESG and sustainability frameworks Cross-border regulatory landscapes Data governance and cybersecurity Multilingual legal and commercial communication Yet many organisations are hampered by talent gaps. Professionals with true ESG fluency remains scarce. So too are those who can navigate the intersection of legal risk, commercial strategy, and stakeholder expectation. This is where both strategic workforce planning and immediate staffing solutions become mission critical. Strategic planning identifies future gaps and builds pipelines of ready-now and ready-later talent. Meanwhile, on-demand support via immediate staffing solutions enables organisations to address urgent regulatory demands without compromising on quality or timelines. How Greenfield Supports Legal Governance Resilience At Greenfield, we understand that building resilient legal and governance teams requires more than recruitment. It demands partnership. With over 17 years advising Luxembourgs legal, financial, and corporate sectors, we bring structured hiring expertise grounded in local knowledge and market-wide perspective.Whether supporting permanent mandates, project-based roles, or urgent capacity uplift, our process is built around precision, visibility, and speed. We help you define roles aligned with future needs, access rare skillsets, and deliver hiring outcomes that support enterprise confidence. Our promise: insight-led recruitment that strengthens your governance capability and advances your organisational resilience. Find Out How Leaders Are Building Resilience.

"Greenfield (Luxembourg, est. 2008) and Carnegie Consulting (London, est. 2006) have today announced a strategic partnership. Both firms are independent, partner-led specialist recruitment firms with well-established reputations as trusted advisors to mid-market alternative investment managers across Europe. Both firms bring long-standing expertise in finance, investment operations, compliance, risk, and governance, with additional strength in HR and business support recruitment key functional areas that underpin the operations of private capital firms. Our collaboration with Greenfield meaningfully extends our reach and offers clients tangible value a single, aligned approach driving cross-border hiring strategies with clarity and reach. Guy Steel, Founder, Carnegie Consulting Were excited to be partnering with Carnegie. It was evident from day one that we share common values and that this alliance strengthens our value proposition. Luxembourg and London have long been natural bedfellows this alliance brings greater structure and clear synergies to the cross-border needs of our clients. Courtney Charlton, Co-Founder, Greenfield Luxembourg Together, Greenfield and Carnegie offer: London Luxembourg: two of Europes key private markets hubs delivering synergies, coordination, and clarity across borders.Deep functional expertise spanning governance-led and investment-facing roles from Luxembourgs AIFM-regulated infrastructure Luxembourgs AIFM-regulated platforms to Londons finance, operations, and control functions.A partnership-first, values-driven service model rooted in insight, integrity, and long-term sustainability. Together, Greenfield and Carnegie offer an integrated talent solution that covers all critical functions across the private markets value chain in both London and Luxembourg. #PrivateMarkets #Recruitment #Luxembourg #London #Governance #PrivateEquity #Partnership #TalentAdvisory For more information, please contact Courtney Charlton, Greenfield Luxembourg, courtney@greenfield.lu"

In Luxembourg, the pace of change has accelerated. Digitalisation, ESG imperatives, and AI adoption are key to business survival and growth. With Luxembourg CEOs committed to long-term digital investment, the most urgent boardroom question is now, do we have the talent required for whats next? This is the central challenge of ongoing workforce transformation. And its one that cannot be delegated. As technological adoption increases and regulatory environments shift, Luxembourgs C-suite and talent teams must take a more active role in shaping people strategy. Senior executives are rethinking leadership planning, hiring models, and organisational design to future-proof their businesses, especially across mid-cap and financial sectors. Jump To: New Demands on Executive Talent Strategy Talent as a Growth Driver Challenges Unique to Luxembourg The Advantage of a Strategic Talent Partner New Demands on Executive Talent Strategy Luxembourg is advancing quickly on the digital frontier, but not without growing pains. While 52% of enterprises report using AI, cloud computing, or data analytics, this is behind the EU average of 54.6% and highlights a performance gap. Recognising this, the government has introduced an 18% investment tax credit for digital and green transformation projects starting in 2024. A clear sign that digital capability is now a national economic priority. At the same time, financial services leaders are placing big bets on digital acceleration. Half of all Financial Services CEOs in Luxembourg believe AI will boost profitability by at least 5% in the next year. 10% project larger rises of between 16 and 25%. This signals a big shift in how value will be created and places greater pressure on leaders to ensure they have a next generation workforce with the skills and mindset to deliver. Achieving this will require cooperation between human resources teams and senior leadership. C-suite executives must take direct ownership of workforce transformation through strategic planning. The future of competitiveness requires the alignment of people, performance, and purpose. Talent as a Growth Driver Workforce transformation is not simply about scaling headcount. Crucially businesses need to redefine the relationship between people and business value. This turns talent into a growth engine, where the right skills, deployed at the right time, become a source of competitive differentiation. Companies that integrate strategic talent planning into their core growth model can better align operational execution with market dynamics, allowing them to move faster and innovate more confidently.This will also change how senior executives evaluate ROI. Instead of measuring talent by cost, the C-suite is increasingly measuring it by capability, specifically the organisations ability to deliver outcomes in line with strategic goals. In this context, having a next-generation workforce improves productivity, and investor confidence, customer trust, and long-term resilience. To compete in this environment, companies must move from reactive recruitment to proactive capability-building. Strategic talent planning allows firms to anticipate skill gaps before they impact performance, to shape leadership pipelines that reflect future demand, and to align team structure with evolving business models. In practice, this involves adopting skills-based workforce planning, not role-based hiring. The goal is to build adaptive teams that can pivot with market needs. For senior executives, this means collaborating across finance, operations, and HR to ensure that the company is not only staffed for today but prepared for tomorrow. The C-suite must model this transformation from the top. Executives need to engage with the realities of workforce data, succession planning, and team agility. When leaders take an active role in talent strategy, the result is stronger alignment, faster decision-making, and more resilient performance across business cycles. Challenges Unique to Luxembourg Luxembourg offers many advantages for business, including proximity to EU institutions, a stable regulatory environment, and a deep bench of financial expertise. But it also presents unique talent challenges. Language diversity, labour law complexity, and a relatively small talent pool all make strategic workforce transformation more difficult to implement. In the mid-cap and financial services sectors, these constraints are magnified. Growing firms must compete with multinationals for top talent while navigating strict compliance demands and expanding digital requirements. As a result, senior executives are rethinking everything from hiring models to leadership development pipelines. Key strategies include: Leveraging immediate staffing solutions to fill high-impact gaps during transformation periods Rethinking team design to incorporate more fluid, project-based roles alongside core leadership positions Investing in internal mobility and multilingual talent development to reduce reliance on external hires These approaches allow C-suite leaders to maintain agility while navigating Luxembourgs regulatory and operational nuances. They also support the broader goal of shaping a next generation workforce capable of sustained growth. Luxembourgs role in Europe as a financial and innovation hub gives its workforce transformation efforts broader relevance and places added responsibility on senior leadership. Executives here are setting standards that ripple across borders. C-suite leaders in Luxembourg are uniquely positioned to demonstrate how small markets can deliver big results through coordinated investment in people, policy, and technology. And that requires clear intent, strategic focus, and a willingness to partner differently. The Advantage of a Strategic Talent Partner As workforce transformation becomes central to business strategy, companies require more than transactional hiring support and traditional recruitment models. They need strategic talent partners who understand not just the market, but the performance pressures, and cultural dynamics driving executive decisions.A true strategic talent partner brings: Insight-led advisory based on market trends and talent analytics Consultative support to align workforce plans with business goals Deep knowledge of Luxembourgs regulatory and labour environment At Greenfield, we help senior executives and C-suite leaders build clarity in complex environments. Whether its through market mapping, leadership search, or immediate staffing solutions, our approach is rooted in understanding both the local talent context and the strategic ambition of our clients. Technology alone doesnt transform businesses. People do. In Luxembourg, the next generation workforce will be the engine behind digital growth, regulatory agility, and ESG delivery. Its time for senior executives to lead from the front. Discover Whats Driving Workforce Transformation in Luxembourg.

Artificial intelligence (AI) and automation are reshaping how we work, hire, and lead. In Luxembourg and across Europe, AI adoption is accelerating. From predictive analytics to smart automation in HR, AI and digital transformation go hand in hand. For senior executives, the pressure to transform is relentless. Yet amid the acceleration of AI-driven transformation, organisational purpose and culture often become afterthoughts. How can we modernise operations, while ensuring our organisational identity is anchored in clarity, cohesion, and human-centric values and stays true to long-term vision? Jump To: Understanding the Impact of AI-Driven Transformation Aligning AI and Digital Transformation with Organisational Purpose Hiring Beyond Technical Skillsets Expanding the Role of Human-Centric Leadership Understanding Whats Possible Choosing a Talent Partner for Purpose Understanding the Impact of AI-Driven Transformation AI-driven transformation is influencing nearly every function of the modern enterprise. From customer engagement and operational efficiency to product innovation and workforce planning, AI has moved beyond the back office to become a front-line enabler of strategic growth. In operations, AI is automating complex workflows and accelerating data-driven decisions. In finance, algorithms help forecast risk and streamline reporting. In HR, AI tools are enhancing recruitment processes, identifying skills gaps, and personalising employee development paths. Across sectors, organisations are integrating digital transformation using AI to improve service delivery, scale faster, and respond with greater agility to market changes. However, this transformation also creates organisational strain. Rapid change introduces uncertainty, increases the potential for cultural misalignment, and demands new leadership capabilities. Navigating AI and digital transformation means balancing innovation with cohesion to ensure performance gains do not come at the expense of identity or resilience. Aligning AI and Digital Transformation with Organisational Purpose Digital transformation using AI should serve your businesss mission, not replace it. Purpose-led companies perform better in periods of disruption, offering stability in how they communicate, hire, and lead through uncertainty. Achieving this means co-developing AI alongside business strategy, not in isolation. When purpose is embedded in technology adoption, organisations avoid reactive implementation and instead craft a transformation narrative that staff and stakeholders can understand and support. This is especially important in Luxembourgs multilingual, regulated, and competitive environment. Companies here must navigate a fine balance: harnessing the efficiency gains of AI and automation, while building inclusive, values-based workplaces. Leadership teams need to be intentional in aligning AI-driven transformation initiatives with brand values, diversity goals, and employee experience. Hiring Beyond Technical Skillsets As automation reshapes the nature of work, leadership teams must rethink who they hire and why. While technical skills are important, future-ready teams will be defined by their ability to adapt and collaborate. Adaptability and cross-department cooperation is facilitated by shared values and cohesive culture.Attracting and retaining professionals with shared values and critical soft skills requires shifting from traditional hiring to purpose-aligned hiring. AI HR tools can streamline the identification of competencies, but it is up to human leadership to assess cultural fit and long-term potential. Leaders must as themselves is they are building a workforce that supports their strategy or one that simply executes tasks? As AI change management becomes embedded in core functions, hiring for mission, not just mastery, will distinguish resilient organisations. Expanding the Role of Human-Centric Leadership As organisations evolve through AI-driven transformation, the role of leadership itself must also transform. Senior executives are decision-makers and the stewards of organisational culture. This dual role provides the catalyst for purpose-driven innovation. In environments of accelerated change, it is leadership empathy, clarity, and vision that anchor teams. Incorporating AI may optimise processes and push productivity, but maintaining team morale and alignment still depends on direct, human leadership. This is especially true in diverse, regulated markets like Luxembourg where authenticity and inclusion matter as much as operational efficiency. Executives must ensure that as digital transformation using AI advances, the human experience of work does not diminish but deepens. Understanding Whats Possible Within Luxembourgs business landscape, several high-profile companies offer compelling examples of purpose-led hiring, cultural understanding, and digital transformation in action. Vodafone Luxembourg has managed to integrate AI and automation into its operations while preserving a strong local identity. Their commitment to creating an inclusive, dynamic workplace exemplifies how AI for HR can complement a values-driven culture rather than compromise it. Waystone Luxembourg shows how strong leadership anchored in clarity and values can maintain company culture during periods of rapid digital scale-up. Their experience underlines the importance of embedding purpose into AI change management to maintain team cohesion and morale. Swiss Re illustrates how technology and business strategy can co-exist when intentionally shaped by executive vision. The firm has effectively leveraged digital transformation while staying true to its brand ethos, attracting purpose-driven talent through a clear employer value proposition. These companies reflect what is possible when senior leadership prioritises intentionality over urgency. They demonstrate that AI-driven transformation does not have to mean cultural compromise. Instead, it can be a lever for strengthening identity, engagement, and long-term growth. Choosing a Talent Partner for Purpose AI-driven transformation requires partners who understand more than just job specs. Strategic talent partners must help translate business purpose into hiring strategies that support long-term goals. This means advising on: Employer brand positioning in a digital-first market Leadership search aligned to transformation priorities Team design that reflects organisational values and future vision Greenfield helps business leaders across Luxembourg align their people strategy with AI-driven digital transformation efforts. We specialise building leadership pipelines that support both immediate priorities and long-term cultural resilience. Our approach to AI for HR balances tech-enabled efficiency with insight-driven advisory, ensuring that each hire reflects both performance criteria and purpose alignment. Sustainable performance stems from purpose, not just productivity. As AI-driven transformation accelerates, executives must lead with intention to shape organisational change through people, not around them. Lead through Change with Purpose.

Legal and general corporate governance leaders face a delicate balancing act. They must drive strategic oversight, ensure compliance, and deliver on ESG commitments while keeping legal department structures lean and cost-efficient. With Luxembourg known for its progressive stance on sustainable finance and robust cross-border regulation, this challenge is especially pronounced. The ability to meet these expectations without overextending resources lies in the right talent mix. Forward-thinking leaders are evolving their governance team structures to be more agile, incorporating a strategic blend of permanent experts and on-demand talent. The goal? To support operational resilience governance while staying aligned with fast-changing regulatory and stakeholder demands. Jump To Section: Why the Right Talent Mix Matters Designing a Modern Governance Team Structure Aligning Hiring Models to Real-World Governance Needs Risks of Not Adapting Futureproofing Without Overbuilding How Greenfield Enables Agility Why the Right Talent Mix Matters Luxembourgs commitment to ESG and regulatory evolution is putting pressure on governance leaders to be adaptive, responsive, and consistently high performing. But lean legal department structures often struggle to flex at pace. Instead of defaulting to fixed headcount increases, leaders must revisit their team governance structures to identify opportunities for scalability. This includes building succession pipelines while retaining access to specialists for immediate, time-sensitive priorities. From GDPR audits to cross-border fund structuring, the ability to scale legal expertise on demand is increasingly linked to organisational resilience. At a strategic level, this shift reflects broader trends. Macroeconomic volatility, heightened investor scrutiny, and the acceleration of digital transformation are forcing organisations to reconsider how their legal and governance teams contribute to enterprise agility. The ability to recalibrate team governance structures quickly, while maintaining rigour, is now a hallmark of successful leadership. Designing a Modern Governance Team Structure A modern governance team no longer functions well with a static hierarchy. Instead, legal and general corporate governance functions are integrated more closely with finance, IT, risk, and sustainability teams. These dynamic networks ensure joined-up thinking across compliance and strategy. Structures are increasingly matrixed, with leaders overseeing legal risk but also digital resilience, stakeholder reporting, and ethical conduct.This approach demands new competencies. Digital governance capabilities, cross-border advisory skills, and fluency in ESG disclosure standards are all in high demand. At the same time, effective legal department structures must ensure resilience through redundancy, building depth into key areas without locking in unnecessary fixed cost. Aligning Hiring Models to Real-World Governance Needs To create a resilient and flexible legal and general corporate governance team structure, its essential to match hiring models to your business needs. Contingent Hiring Highly effective for everyday permanent roles within organisations. Unlike temporary or project-based arrangements, contingent hiring represents standard recruitment practices for ongoing positions. For example, when expanding departments or replacing departing staff, organisations rely on contingent hiring to maintain operational continuity. This approach allows companies to build and sustain their permanent workforce, ensuring consistent delivery of core business functions while developing long-term institutional knowledge and team stability.Engaged Search Suits niche hiring needs. For instance, a Luxembourg-based firm preparing for CSRD compliance may seek an ESG disclosure expert with a rare skillset. By engaging a search partner, the business can secure talent quickly while ensuring alignment with its team governance structure and sustainability goals. Retained Search Best applied to senior appointments such as General Counsel or Legal Director appointments. These individuals are pivotal to setting governance direction and managing board relations. For example, a multinational may choose a retained model to ensure cultural alignment and leadership capability in their new Head of Legal, a role central to their legal and general corporate governance maturity. Immediate Staffing Solutions Essential for managing regulatory spikes or complex events like MA and internal investigations. During GDPR enforcement actions, companies may rapidly onboard privacy compliance contractors through immediate staffing solutions to navigate deadlines and mitigate reputational risk. This flexible deployment safeguarded operational resilience governance during a high-pressure period. These use cases illustrate the importance of aligning legal talent strategy to current business scenarios, not simply by function, but by impact. Risks of Not Adapting Failure to adapt legal and general corporate governance department structures to todays realities carries tangible risks. Organisations that maintain rigid, legacy team governance structures often suffer from compliance fatigue, slower reaction times, and higher turnover among overstretched staff. In high-stakes sectors like financial services or regulated funds, this can translate into reputational damage, missed deadlines, or regulatory fines.Strong coordination across these functions, rather than operating in silos, enables faster and more informed responses to regulatory challenges. When legal and governance functions are well integrated into broader ESG and enterprise planning structures, they become significantly more responsive. In fact, 59% of governance leaders say that more connected ESG functions improve confidence in compliance and governance decision-making. Operational resilience governance depends not only on process and technology, but on people. When legal teams lack the flexibility or capacity to meet emerging demands, the risk profile of the organisation rises exponentially. Futureproofing Without Overbuilding The goal is not simply to grow legal headcount, but to future-proof department structures in a way that enhances operational resilience governance. This means: Creating role clarity around permanent vs. project-based capacity ensuring that your team governance structure is capable of both stability and rapid scale-up when necessary. Leveraging workforce planning to go beyond reactive hiring to actively anticipate regulatory, technological, and market-driven skill needs. Engaging recruitment partners who not only understand the legal and general corporate governance landscape but can provide fast, precise access to the right talent. Legal and general corporate governance leaders who take this approach are better equipped to respond to disruption, capitalise on opportunity, and maintain both compliance and competitive advantage. How Greenfield Enables Agility Greenfield supports legal and general corporate governance leaders in building flexible, high-performing teams tailored to Luxembourgs regulatory landscape. Our approach starts with a consultative hiring strategy, ensuring talent needs are aligned to both risk exposure and commercial growth priorities. We draw on extensive market reach across legal disciplines, connecting organisations to both permanent candidates and specialist professionals available for immediate deployment.What sets us apart is our structured recruitment process, designed to provide time-to-hire clarity and reduce decision friction at every stage. Our method ensures each hire is aligned to your team governance structure and resilience strategy whatever your requirements. Whether the need is permanent recruitment, on-demand expertise, or immediate staffing solutions, Greenfield delivers with insight, precision, and speed. Learn How Leaders Build the Right Talent Mix.

Introduction: A Market Redefining Itself The past three years have reshaped Luxembourgs talent landscape in ways few anticipated. After a deep freeze in 2023 and a tentative recovery throughout 2024, the market in 2025 has regained momentum, but in a far more controlled and deliberate manner than before. Across the asset management, financial sector and wider economy, a consistent theme has emerged in our conversations with senior leaders: hiring has returned, but the urgency has not. The era of aggressive competition and rapid-fire offers has given way to a much more measured approach, where the focus has shifted decisively toward securing individuals who genuinely influence outcomes. This report brings together the strongest insights from our direct perspective and reflects the candid views shared by business and HR leadership in the second half of 2025, navigating a market that rewards precision, readiness and a new way of thinking about talent. How 2025 Actually Played Out A Year of Activity, But Marked by Volatility. There is a broad consensus that 2025 has been an improvement on 2024. According to Greenfields new vacancies data - more mandates were created (+29 percent on 2024), particularly in the spring, and movement across mid-level finance, governance and legal roles accelerated. Yet the year has been characterised by striking inconsistency. Periods of high demand were often followed by weeks of relative stillness, and the summer months were notably subdued, with many organisations postponing decisions longer than usual.Recruiters and hiring managers alike describe the year as one defined by peaks and troughs, reflecting a market that has not yet established a stable rhythm. Cautious Optimism Defines the Mood Despite solid market performance and ongoing deal activity, confidence across the financial sector remains cautious. Liquidity constraints, sovereign debt and geopolitical uncertainty continue to exert a subtle but persistent influence on hiring behaviour.As one banking executive remarked, We keep waiting for the music to stop, but it keeps playing. This neatly encapsulates the prevailing sentiment: cautiously forward-moving, yet consistently aware of risk.

Navigating the Challenges and Opportunities of Simplified Right to Work for Third Country Nationals in Luxembourg Third Country Nationals in Luxembourg Under the Law of 7th August 2023, and amending the law of 29 August 2008 on the free movement of persons and immigration, Starting September 1st, 2023, businesses employing third-country nationals in high-demand professions, which are those facing shortages of labor in the EU market, will no longer undergo a labor market test. Instead, they can swiftly obtain approval from the Employment Development Agency within five working days upon requesting permission to hire these individuals. Formerly, such companies were required to wait for a labor market test lasting three weeks or more before receiving certification which often was prohibitive to progressing third-country nationals to an offer of employment. High demand professions: The specific professions considered as high-demand in Luxembourg may vary based on the country's economic needs, industry trends, and demographic factors. A complete current list is available at Legilux.public.lu however they span across all sectors, from hospitality, IT, healthcare and unsurprisingly, finance. Employers wishing to employ third-country nationals for roles outside of these defined functions will still require undergoing a lengthier formalisation process. Opportunities: Attracting Talent: Luxembourg has a skills shortage; this is without question. Even today, in an economic squeeze, we observe full employment and a continued war for talent within certain segments of the market. Simplifying the access to overseas talent will open-up new avenues of exploration for some employers and should be considered as beneficial to the nation. Accessing this talent effectively will remain a challenge and will require a paradigm shift in talent acquisition strategy for both HR leaders and external consultants. Economic Growth: Enabling greater access to the market will naturally stimulate the acquisition of formerly unreachable talent; this may in turn my encourage foreign investment and domestic entrepreneurship to select Luxembourg as a base market where this would otherwise have not been the case. There are various sectors of development that the Luxembourg state has committed to support which may also benefit from this drive. An influx of formerly inaccessible talent may contribute to the development of emerging industries and enhance the country's competitiveness; a topic of considerable significance. Cultural Diversity: Luxembourg is a melting-pot of diversity. This is not a new concept and it is arguably one of our richest national characteristics. We are excellently positioned to embrace an ever more diverse workforce and continue to foster cross-cultural exchange. There is no doubt that Luxembourg is a leader in leveraging strength through diversity and is debatably a beacon of this enhancement within a wider European context. Challenges: Strain on housing stock: Luxembourgs robust population growth in the last decade of around 2.0% annually continues to strain existing provisions. Despite efforts to increase housing supply, Luxembourg continues to face shortages and therefore a spiraling rental market. The intended desire to increase the population by stimulating the ease of access to the employment market will without doubt further exacerbate this topic. Without an ample supply of affordable housing schemes and a more substantial public transport system outside the City and principal urbanisations, will surely lead to further strain on a very vulnerable system even further. Integration and Social Cohesion: Ensuring the smooth integration of expatriates into Luxembourg's society poses a significant challenge. Language barriers, cultural and religious differences can lead to a progressive erosion the existing social structure of the country. This is commonly understood to already be the case and further work must be undertaken to ensure that ample provision of common services and resources to cater for a wider spectrum and growing population of non-European immigrants. This is a substantial challenge facing such a small and traditionally conservative country as Luxembourg. Labor Market Dynamics: The loosening of right to work requirements will arguably stimulate competition in the labor market. Luxembourg which has long walked a narrow path of being both competitive in an international context, but also offering an enviable economic advantage to its labour force is exposed to shocks associated with a sudden oversupply of incoming labour. Luxembourg must strike a balance between leveraging foreign talent to enable growth but equally to safeguard salary stability and job security for the domestic labour pool. This requires proactive labor market policies including ongoing training and upskilling initiatives across all industries. The practicalities of elegantly managing incoming offers of labour from a new third-country population will be a challenge. Markets are highly connected and information travels fast. There is already very substantial interest from would-be labour from all continents. Nuance and cultural understanding of Luxembourgs norms are however learnt and not inherent. Frustration by parties on either side the employment offer may become evident. On one hand there is now in principle, little restriction for overseas immigrants to obtain employment in Luxembourg, we are after all offer a highly attractive market with the highest minimum wage in the EU, but on the other, there are practical realities of possessing the necessary relevant skills, language and cultural norms that all come to make an employment relationship work. Employers will need to be prepared for this challenge it will be both sensitive and time consuming. Employer branding may be challenged, and special attention must be observed to ensure equal opportunities for all qualified applicants. A joined-up approach with both industry and the Employment Development Agency should be actively sought; only with this joined-up approach will there be the necessary policy and progress achieved. Courtney Charlton 13/2/24 First published AGEFI Luxembourg Feb 2024

Organisations continue to face the inherent challenges of a competitive job market; identifying and retaining top talent is a pivotal exercise for all modern companies. It is not unsurprising with this backdrop that in the advent of predictive analytics powered by artificial intelligence (AI) and machine learning, many larger firms have actively implemented technology that enables data-driven hiring decisions that promises to optimise candidate success and retention. As a professional recruiter I caution this topic with large dose of hesitancy. The theory is: traditional recruitment methods often rely on subjective assessments and gut instincts. It is said that this can lead to inefficiencies and mismatches between the candidate appointed, their respective job role, and cultural fit. The promise is that predictive analytics powered by artificial intelligence reduce these subjectivities. By leveraging vast amounts of historic data (related to candidates, employers, and job functions) they can identify correlations and trends that indicate probabilities of a given candidates success and retention and thus lead the hiring party to make talent acquisition decisions based upon a highly data-driven model. Whilst there are some notable opportunities in using AI to aid a recruitment process (efficiency, diversity, accuracy, and strategic talent management) where the use of technology is ill planned and executed without sufficient finesse, sensitivity, and temperance, I believe that there are significant long term negative consequences related to the introduction of bias and consequently, hiring discrimination. This has become a topic of debate with much anecdotical evidence demonstrating that the adoption of algorithmic tools has caused both inefficiency and in many cases taking what should be a human experience of hiring a future employee and turning it into what can be likened to an experience on a dating website. This is in its most optimistic sense highly impersonal, and at its extreme simply immoral. There is a real risk of systematic and unfair favoritism or prejudice that can (and does) influence algorithmic decision-making in talent acquisition initiatives. These biases can manifest in various forms, however, here are a few to consider: Historical Bias: AI algorithms are trained on historical data that may perpetuate and, in fact, magnify existing biases present in a companys hiring decisions. If historical data reflects systemic inequalities in former recruitment practices, AI models will probably reinforce these biases. Data Bias: Biases can also arise from the quality and representativeness of the data used to train AI algorithms. If training data is skewed or unrepresentative of the diverse population of job seekers, algorithms may produce biased outcomes that disproportionately disadvantage (or by extension provide advantage to) certain demographic groups. Consider, when applied to its fullest level of execution, AI will preselect without compromise only according to its trained criteria there are no opportunities for a qualitative decision; nor are there likely the means for a job seeker to challenge a decision executed. Algorithmic Bias: Due to the complexity of modeling human behavior and preferences, the programming of algorithmic code can in fact become invertedly bias. Factors such as feature selection, weighting, and decision thresholds can introduce unintended biases into AI driven decision-making processes. Feedback Loop Bias: Biased outcomes generated by AI algorithms may perpetuate feedback loops that reinforce inequalities in a firms talent acquisition processes. For example, if certain demographic groups are consistently overlooked or rejected by AI-driven tools they may be perpetuated in the algorithm of selection. AI has the potential to enhance talent acquisition by improving efficiency and facilitating data driven matches between candidates their job function and organisation. However, the potential for inhuman decision making can be very unfair. Organisations would be wise to address concerns related to bias and thus potential discrimination. There are further various considerations surrounding data privacy and transparency that need to be carefully monitored to ensure the ethical and responsible use of AI in recruitment initiatives. Predictive models require ongoing refinement and validation to remain accurate. User companies should therefore establish mechanisms for ongoing monitoring and evaluation of AI talent acquisition systems to detect and address emerging biases or disparities. Diversity is king for many organisations, lets ensure that this is not neglected. First published in AGEFI May 2024 Courtney Charlton

The Greenfield Conversation Episode 2 I sat down with Ami Nagata, Managing Director of Zodia Custody, to talk about her personal journey to executive leadership, the Crypto industry and her personal philosophies on leadership and personal development. Thanks to Ami Nagata - Zodia Custody for your insights and compelling approach to life - its a great watch! The Greenfield Conversation explores the personal journeys behind leadership in Luxembourgs financial ecosystem.

The Greenfield Conversation Episode 1: Johan Van den Berg, Group CEO, Ancorius In this insightful discussion, we explore what it means to build a client-centric business in Luxembourg, how to develop high-performing teams, and the leadership mindset required to thrive in a fast-moving financial ecosystem. Johan shares lessons from his own journey, the importance of trust and talent, and why staying close to clients is the foundation of lasting success. The Greenfield Conversation dives into the personal journeys behind leadership in Luxembourgs financial, funds, and digital-asset sectors. Real experiences. Honest insights. Lessons worth sharing. #GreenfieldConversation #Leadership #Luxembourg #FinancialServices #Ancorius #CareerJourneys

Why Having a Career Plan is Essential to your Professional Growth In today's fast-paced and ever-evolving professional landscape, the importance of having a career plan cannot be overstated. Whether you're just starting out or you're a seasoned professional, having a clear vision of where you want to go and how you plan to get there is crucial for achieving success and fulfillment in your career. But why is a career plan so essential? Let's explore the the key reasons. Defining Your Career Goals The foundation of any successful career plan starts with clearly defined career goals. Ask yourself: What are your career aspirations? Where do you see yourself in 2, 6, or 10 years from now? It's important to consider whether your current career trajectory aligns with your ideal path. Are you working in the right area of your field of expertise or even in the right discipline? Are you on a corporate career path, or are you leaning towards consulting or advisory roles? Are you already in your chosen market or can your skills be better suited to an alternative environment? These are pivotal questions that help shape your career plan. Without clearly stated goals, finding the right path can be challenging. Sure, invariably you will need to study, or pursue professional qualifications and you will be wise to build a professional network and gain valuable transferable experience along the way. However, without a clear picture of where you are heading, you might end up on the right path by luck rather than by design. The Pitfalls of Not Having a Career Plan Surprisingly, or perhaps not, many professionals across various industries are rarely mindful of their career planning. This often leads to a rudderless journey where progress is a result of chance rather than a deliberate, desired outcome. When professionals lack a clear career plan, their advancement tends to be sporadic and opportunistic rather than structured and intentional. This lack of direction can result in a career that feels unfulfilling and stagnant. Professionals may find themselves drifting from one job to another, motivated primarily by short-term incentives such as pay raises rather than long-term career growth and satisfaction. This approach rarely leads to sustained success and can leave individuals feeling unmotivated and disengaged. The Power of a Structured Career Plan Conversely, when I meet individuals with a clear goal and a structured thought process about what they want to achieve, they stand out as compelling prospects for our clients. These individuals exhibit: Direction and Focus Having a career plan provides a roadmap for success. It gives individuals a laser focus and drive to achieve their goals. This direction ensures that every step taken is purposeful and aligned with their long-term objectives. Certainty and Belief Professionals with a career plan have certainty and belief in their objectives. They are not swayed by short-term opportunities that might offer immediate rewards but do not align with their ultimate career goals. This steadfastness is a key trait of successful individuals. Motivation and Purpose A well-defined career plan instills a sense of motivation and purpose. It gives professionals a reason to strive for excellence and persevere through challenges. Knowing what you want to achieve and actively working towards it brings a sense of fulfillment and satisfaction. Long-term Success When I reconnect with professionals who had a clear career plan early on, they have invariably succeeded. Their structured approach to career planning and their unwavering focus on their goals have propelled them to achieve significant milestones in their careers. Crafting Your Career Plan Creating a career plan involves several key steps: Self-Assessment Start by assessing your strengths, weaknesses, interests, and values. Understanding what drives you and where your true passions lie is essential for setting meaningful career goals. Setting SMART Goals Set Specific, Measurable, Achievable, Relevant, and Time-bound (SMART) goals. These goals should be clearly defined and broken down into short-term and long-term objectives. For example, a short-term goal might be to obtain a particular certification, while a long-term goal could be to become a senior executive in your field. Research and Networking Conduct thorough research on the industry and roles you are interested in. Networking with professionals in your desired field can provide valuable insights and help you identify the skills and experiences needed to achieve your goals. Continuous Learning and Development Commit to continuous learning and development. This could involve pursuing additional qualifications, attending industry conferences, or engaging in professional development courses. Staying updated with industry trends and advancements will ensure you remain competitive and relevant. Regular Review and Adjustment A career plan is not static. Regularly review and adjust your plan based on your progress and any changes in your personal or professional circumstances. Flexibility is key to adapting to new opportunities and challenges that may arise. In Summary In essence, having career goals early in your career provides clarity, motivation, and a sense of purpose that are essential ingredients for success. By defining what you want to achieve and actively pursuing those goals, you increase your chances of realising your full potential and building a fulfilling and rewarding professional life. A career plan acts as a guiding compass, ensuring that you are always moving towards your desired destination, no matter what obstacles may come your way. In conclusion, investing time and effort into creating and following a career plan is not just beneficial but essential for professional growth. It empowers you to take control of your career trajectory, make informed decisions, and ultimately achieve the success and satisfaction you desire. So, take the first step today define your career goals and chart your path to professional growth and fulfillment. Courtney Charlton Original published in AGEFI June 2024

Winning the War for Talent: Addressing Client Pain Points and Elevating Recruitment Success The recruitment landscape is more competitive and complex than ever, with businesses struggling to attract, secure, and retain top talent. As a recruitment company, weve listened to our clients frustrations, observed recurring challenges, and identified actionable solutions to transform their hiring outcomes. Heres what weve uncovered and how clients can win the war for talent. The Common Pains of Recruitment Our clients challenges often boil down to a noisy and overcrowded market. With hundreds of unqualified applicants and limited time to screen effectively, many businesses feel overwhelmed. Budget constraints further complicate matters, limiting access to professional recruitment services that could lighten the load. Adding to this, discrepancies between HR and line management often lead to misaligned goals. HR teams may focus on budgets and process, while line managers prioritize candidate characteristics and skills, creating friction in decision-making. Moreover, limited expertise within HR or a lack of dedicated recruitment support means hiring managers are left juggling operational duties with recruitment execution. Common Complaints About the Luxembourg Labour Market Weve been reflecting on the most common frustrations of our clients when engaging with the Luxembourg recruitment market. Whilst many of these challenges are simply a product of the buoyant job market there are some practical recommendations that will help improve your chances of success in securing the most suitably talented people for your business: Accelerate Decision-Making: In-demand candidates are quickly secured in this competitive market. Streamlined processes and expedited decisions are critical. Prioritise Candidate Experience: A seamless and professional interview process from end to end - reflects positively on the organisation, enhancing its appeal. Align Compensation with Market Standards: Competitive remuneration aligned with industry benchmarks is essential to attract and retain talent. Develop a Robust Employer Value Proposition (EVP): Clearly articulate the organisations culture, mission, and opportunities to differentiate the role. Adopt Flexibility: Adjust working terms, be willing to train, and listen to recruiter recommendations to enable creativity in expanding your talent pool. Actively Engage in the Process: Avoid seeing recruitment as an event instead view each interview as a step in the process. Be patient, adapt, pivot and listen the realities of the market even if its not what you want to hear! Leverage Narrative: Craft a compelling organisational story that resonates with candidates and aligns with their aspirations. Engage Recruitment Expertise: Partnering with specialised professionals ensures access to market insights, tailored strategies, and optimal outcomes. Courtney Charlton February 2025