In a press release published on 9 June, Intesa Sanpaolo Wealth Management announced that will end his mandate as CEO and chairman of the executive committee on 31 December 2023. , who is currently deputy CEO, will take Hoffmann’s position starting from 1 January 2024.

“The Fideuram Bank (Luxembourg) and CBP Quilvest merger at the beginning of 2023 created a new hub to further our international private banking business in areas with promising growth prospects,” said Hoffmann. “Our objective today is to consolidate, to pursue our growth and to continue to make our mark on the history of the Luxembourg financial sector, both at European and international level. This is a new chapter for the Bank... and for me too.”

Hoffmann will be appointed vice chairman of the board of directors, and will then become chairman of Intesa Sanpolo Wealth Management in 2025, added the press release. He was previously the CEO of Banque Internationale à Luxembourg and, together with others such as , initiated the creation of the Luxembourgish bank Compagnie de Banque Privée (CBP), which later became CBP Quilvest.

Flammang was one of the founding partners of the Compagnie de Banque Privée, where he headed its investment and insurance brokerage activities and served as deputy CEO. “We are very excited to answer to institutional and private clients’ complex needs,” said Flammang, “and our distinctive track record in domestic and international private bank markets represents a multiple growth catalyst.”

Emilio Carugati, who was previously CEO of Fideuram Bank (Luxembourg), will take over as deputy CEO of Intesa Sanpolo Wealth Management.

In January 2023, .