According to investigative news website Reporter.lu, Marcel Leyers has been designated as the successor to Luc Frieden, who stepped down from all of his mandates after being elected as the national lead candidate for the Christian Social People’s Party (CSV).
The Chinese Legend Holding owns 90% of the shares in the Luxembourgish bank BIL.
Leyers will not take over as president immediately, as the bank reportedly wants to finish several projects first, such as upgrading its IT systems. According to Reporter, Frieden will leave his position in April.
Jing Li will temporarily take over the presidency until the European Central Bank (ECB) approves Leyers’ appointment.
In 2022, Luc Frieden upset shareholders when he announced his intention to sell the bank’s shares in Luxair. At the time, Marcel Leyers publicly disagreed with the then BIL president.
