BIL appoints two members to board

The Banque Internationale à Luxembourg (BIL) has appointed Stéphane Albert and Nico Picard to its 10-strong management board.

Pierre Malevez will leave the board and retire, BIL said in a statement.

"We felt it was important to strengthen our management team," BIL Chief Executive Hugues Delcourt said.

"I look forward to their respective contributions to the development and strengthening of our market position."

Luxembourger Picard has been deputy CFO at BIL since 2012.

Albert, who is French, has centred his work on risk and asset management. 

The management board deals with the daily management of the bank.