has officially resigned from his position as president of Banque Internationale à Luxembourg (BIL). This decision was expected from the man who has during the legislative elections to be held in October. On Thursday 16 March, the bank’s board of directors therefore decided to entrust his duties to Jing Li, member of the board of directors and chair of the board’s strategic committee, “until the ongoing process of appointing a new president is finalised,” says a press release.

This news partly confirms what had been anticipated by Reporter.lu: , after a transition period with the current number two, Jing Li.

Frieden has been president of BIL since 2016 and, according to the bank, he has “played a leading role in the governance and long-term development of the bank. Under his chairmanship, the bank has strengthened its risk management framework, committed to its sustainability approach and advanced diversity in its management bodies.”

This story was first published in French on . It has been translated and edited for Delano.