Two of Luxembourg’s top financial bodies are undergoing changes in key leadership positions. Former Fortuna Bank CEO Jerry Grbric this month took over from Yves Maas as chief executive officer of the Grand Duchy’s banking association ABBL, while Frank Wagener, long-time chair of the board of the Luxembourg Stock Exchange, will retire in May.
Frank Wagener
Frank Wagener confirmed his decision to retire at the LuxSE’s Stock Exchange Day event in Luxembourg on Wednesday evening. His successor will be decided at the exchange’s annual general meeting scheduled for 11 May.
Wagner began his career in 1978 at the Banque Internationale à Luxembourg, of which he joined the executive board in 1993. In 2006 he joined the board of directors of the Luxembourg Stock Exchange in 2006. He has served as chair of the board since 2011.
Under his leadership, LuxSE in 2020 appointed Julie Becker as the bourse’s first female CEO.
At the SED event, Wagener praised his colleagues and the “forward oriented” management of LuxSE. “ Together we tried to create value for our shareholders. We’re always supportive of our often daring, always innovative choices. To each and every one that accompanied me throughout this outstanding journey. I would like to extend my heartfelt thanks,” he said.
Jerry Grbric
At Luxembourg’s banking association ABBL, Jerry Grbic this month took over the leadership from Yves Maas as chief executive officer. His appointment was first announced in September. Maas served as interim-CEO following the 2019 departure of former ABBL CEO Serge de Cillia, who recently joined venture capital firm Ilavska Vuillermoz Capital as a member of the advisory board.
“After a thorough recruitment process, I am confident that we have selected an extremely able and dynamic successor to the post of CEO. Jerry will ensure that the ABBL continues to be a relevant and influential partner in the development of the financial sector in Luxembourg,” said Guy Hoffmann, chairman of the ABBL.
Jerry Grbic previously was CEO of Fortuna Bank and brings a wealth of experience in the core business of the members the ABBL represents. He is a Luxembourg national, who started his career with Banque Internationale à Luxembourg in 1996. He joined Fortuna Bank in 2012 and rose to the post of CEO in 2015.
The ABBL is the largest professional association in the financial sector, representing the majority of financial institutions as well as regulated financial intermediaries and other professionals in Luxembourg, including law firms, consultancies, auditors, market infrastructures, e-money and payment institutions.
Fortuna Bank in 2020 was acquired by British asset management firm Chenavari.
At its 27 April general assembly, the ABBL appointed Pierre Etienne, managing director at Pictet Luxembourg, as vice chairman, while supporting an extension of Hoffman’s term as chair.
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