As head of the CSV list in the parliamentary elections, Luc Frieden will have to give up his other mandates.

As president of the Chamber of Commerce, he was replaced by Fernand Ernster.

And for the Banque internationale à Luxembourg (BIL), the post should go to Marcel Leyers, current CEO, according to an article by Reporter.lu. Frieden is expected to step down in April at the annual general meeting. But Leyers would not succeed him directly. Reporter cites two reasons: the IT overhaul project, scheduled for the end of 2023, which he must complete. And the fact that the appointment requires the green light from the European Central Bank (ECB). In the meantime, it would be the current vice president, Jing Li, who would replace him.

“The question of his succession was quickly settled, with the blessing of the government,” writes Reporter. “There were reportedly at least three contenders for the post, including former bank executives. However, there was no official candidacy, but informal contacts.” However, no information has been revealed about who will be the future CEO, once Marcel Leyers has replaced Luc Frieden.

The 60-year-old joined the bank in 1983. He came 8th in the Paperjam Top 100 in 2020.

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