Swiss Life in Luxembourg has made two senior appointments with senior managers who previously worked at rival firm Lombard International Assurance.

The firm has appointed Loïc le Foll to head its private clients unit. In his new role, le Foll will act as deputy to Beat Reichen, the firm’s chief executive in Luxembourg, a statement from Swiss Life said.

With 20 years of experience in the financial industry, le Foll has held a number of senior positions. At Lombard International Assurance, he worked for six years at the firm where he was running the private wealth solutions department.

Joining le Foll’s unit as head of business development is Stephen Cotter, formerly head of business development at Lombard International Assurance.

“These appointments are part of Swiss Life’s strategy to strengthen Luxembourg as the European competence centre for the private placement life insurance business and will ensure a continuation of the great growth success in Luxembourg over the last years,” the firm said.

The role of private placement life insurance within the broader wealth management market has been explored by WealthBriefing in a number of recent articles, such as here.

Meanwhile, as reported recently, this week Lombard International Assurance appointed Robert MacIntyre to lead its UK team and spearhead the development of the firm’s relationships with the UK private banking market. He previously worked at Merrill Lynch, where he had been head of wealth planning for EMEA.