, chair of Luxembourg’s Banque Raiffeisen, has been elected chair of the International Raiffeisen Union. The IRU is the global umbrella group for 50 cooperative banks in 33 countries, the majority located in Europe and east Asia.
“The IRU is primarily dedicated to improving the cooperative regulatory framework worldwide,” Banque Raiffeisen said in a press release on 23 October. “The IRU is committed to finding a balance between tradition and innovation to ensure the sustainability of the cooperative model. It strives to create an environment where cooperatives thrive and can be dynamic, forward-looking enterprises.”
Hoffmann was unanimously elected at the IRU’s annual general meeting in Bonn on 6 October. The IRU quoted Hoffmann as stating, in his speech immediately following the election, that he was: “very proud to be part of the IRU family for so many years. I had and have the great opportunity to meet all of you and many more people in the cooperative world. Regularly, we are exchanging und learning from each other. This power of networking becomes more evident than ever in our strongly interconnected world.”
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Banque Raiffeisen has 34 branches in Luxembourg. According to its 2022 annual report, the bank ended last year with a total balance sheet of €10.7bn, up 5.9% year-on-year, and posted net earnings of €23.7m. It had 45,863 members and employed 662 staff.
Hoffmann has been a senior executive at Banque Raiffeisen since 2007 and previously held posts at BGL BNP Paribas. He also currently serves as chair of the Luxembourg Bankers’ Association (ABBL).