The bank, which operates in regions including Asia, has appointed a new CEO.

Banque Internationale Ă  Luxembourg has appointed Hugues Delcourt as chief executive officer of the BIL Group, which operates in regions including Asia.  

Delcourt succeeds François Pauly, who will continue to provide strategic guidance to the bank by assuming the chairmanship of the board of directors of the BIL Group for an initial three-year term. Pauly will also represent BIL’s interests in major companies such as Luxair and Bourse de Luxembourg, Banque Internationale said in a statement.

Pauly replaces Frank Wagener, who will remain a member of the board of directors as honourary chairman.

“Over the past three years, and especially since the sale process was finalized in 2012, François Pauly has transformed one of Luxembourg’s oldest banks into one of its most modern and successful ones. We look forward to working with him in his new capacity as chairman of the group, taking over from Frank Wagener, who has played such a pivotal part in the evolution of BIL over the past four decades,” said Pierre Gramegna, Luxembourg’s minister of finance.

Earlier this month, Banque Internationale Ă  Luxembourg appointed Thierry de Loriol as chief executive of its Swiss operations as part of its international growth strategy.

The new CEO replaces Michel Wohl, who is moving to become advisor to the board of directors of BIL Suisse. Joining from Banque Cramer & Cie,  de Loriol will also chair the management board.