(L-R) Jeffrey Dentzer, new CEO of BIL; Marcel Leyers, new Chair of the Board of Directors of BIL; Credit: BIL

On Wednesday 22 May 2024, Banque Internationale à Luxembourg (BIL) announced that its Board of Directors has appointed Marcel Leyers Chair of the Board and Jeffrey Dentzer Chief Executive Officer (CEO).

Marcel Leyers, CEO of BIL since May 2019, has retired from executive management and been appointed Chair of the Board of Directors. He takes over from Jing Li, Legend Holdings, Chair ad interim since March 2023, who becomes Vice-Chair of the Board of Directors.

Marcel Leyers joined BIL in 1983. After a few years as a relationship manager in the retail banking activity, he developed a "deep interest" for businesses, entrepreneurs and corporations, noted BIL. He became the Head of Corporate and Institutional Banking (CIB) in 2011 and joined the Executive committee in 2013, before becoming the CEO of the bank in 2019. 

Replacing Marcel Leyers at the helm of the bank, Jeffrey Dentzer, Deputy CEO since 1 January 2024, has been appointed CEO. Before this role, Mr Dentzer served as Chief of Luxembourg Market & CIB and Member of the Management Board of BIL since January 2020. In this position, he was leading the bank's three main businesses on its domestic market: Retail Banking, Wealth Management and Corporate and Institutional Banking.

Since 1 January 2024, Marcel Leyers and Jeffrey Dentzer have been working "hand in hand" to ensure a "smooth" transition at the head of the bank, noted BIL. As its strategic plan Energize Create Together 2025 comes to a close, the bank added that it is working on a new strategic plan centred on its clients and its continued commitment to supporting the economy. 

Commenting on these governance changes, Jing Li, Vice Chair of the Board of Directors representing Legend Holdings, said: "As CEO of BIL, Marcel Leyers guided the bank successfully through the pandemic and a major IT transformation project. I would like to thank him for the tremendous work done. As he is stepping down as CEO, Jeffrey Dentzer is the perfect person to lead the bank in the new chapter of its sustainable growth story, together with the Executive Committee and all BIL staff. The expertise, experience and insights that both bring to the bank are invaluable, and I wish them success."

Marcel Leyers, Chair of the Board of Directors and former CEO, commented: "This change in leadership has been carefully prepared. With Jeffrey Dentzer, I am confident we have the right person to lead BIL towards its next success chapters and to overcome the many challenges that no doubt will arise. He has demonstrated a deep knowledge of all our businesses and his ability to steer the teams in the right direction."

Jeffrey Dentzer, CEO of BIL, added: "I would like to thank the Board of Directors, the Executive Committee and all staff of the bank for their trust. I look forward to working together to bring our clients excellent services and products that will support them in their projects and contribute to the development of Luxembourg's economy."