In this series, we put three questions to leading figures from the asset management industry and around it. This time we spoke with Anouk van Brug, MEP for the VVD. Anouk, 32, grew up in Amsterdam on a houseboat and currently lives in Scheveningen. Last summer she was elected to the European Parliament and took a seat in the ECON committee. In this interview, we discuss her role within this committee, which is responsible for all financial sector-related issues.
Why did you choose to serve on the ECON Committee?
"Economic cooperation in Europe is still the driving force behind our prosperity. Thanks to the EU, we earn a good income in the Netherlands, you can sell your products as an entrepreneur anywhere in Europe and you can pay with the same currency everywhere. That is a great asset, which we must cherish and expand. From the ECON committee, we are working on legislation that ensures that this is possible. Think for example of safe payment transactions, but also of rules that ensure that banks do not collapse and your savings remain safe."
What is a theme or policy initiative within the ECON Commission that you would like to prioritize over the next five years, and why do you think it is important for the EU?
"Making it easier for our companies to get financing so they can invest in the economy of the future is crucial. Currently we lag economically behind countries like the U.S. and China, we have some catching up to do there. If a company needs money it usually depends on the bank. I want companies to find it easier to go to the capital market, as it is a lot easier in the US. That way companies can get money more easily and cheaply to finance their plans. We must dare to build that bridge together."
The European Union faces several major challenges, such as strengthening the Capital Markets Union (CMU), greening the economy and digital transformation. How do you see the role of the asset management sector in addressing these challenges and what obstacles do you think need to be overcome for it to contribute to European ambitions?
"Asset managers, because of their large size, play an important role in financing tomorrow's economy. To make our economy more competitive according to Mario Draghi, 800 billion in investments are needed annually. That cannot all be publicly financed, the lion's share of it will have to come from the private sector. To take just one example, our defense industry will need quite a financial boost. Asset managers can and should play their part in that, as far as I am concerned. I look forward to working with the industry to make this a reality over the next 5 years."
