KBL European Bankers has announced top-level management changes, including the naming of a new group chief executive.

Luxembourg-headquartered KBL European Private Bankers, which is owned by the Luxembourg-based bank holding group, Precision Capital, has announced a top-level management reshuffle – with its group chief executive making way for a successor.

Yves Stein, who for the past year has overseen the group’s pan-European private banking activities in his capacity as a member of the KBL epb executive committee, has been appointed Group CEO, effective 1 February 2014, the firm said in a statement yesterday. Stein previously held the position of CEO of Union Bancaire Privée (Europe) in Luxembourg. He earlier served as director general, Private Banking, at BNP Paribas (Switzerland).

He takes over the reins from Jacques Peters – who had been in the role during the global financial crisis and firm’s acquisition in 2012 by Precision Capital; he steps down as CEO at the end of this week. Peters will continue to serve as chairman of the board of directors of Puilaetco Dewaay Private Bankers in Brussels (which is part of KBL).

Marc Lauwers, who joined the group in 2013 as chief operating officer, has assumed additional responsibility as deputy group CEO, working directly alongside Stein, the statement from the firm said.

Previously a member of the executive committee at Belfius Bank in Belgium, responsible for retail and commercial Banking, Lauwers earlier served as chief operating officer at Belfius and, before that, as CEO of Dexia Banka Slovensko, based in Slovakia.

Other appointments
In addition, three new members have been appointed to the board of directors of KBL epb:

-- Ernst Wilhelm (Bill) Contzen, former CEO of Deutsche Bank Luxembourg and current President of the Luxembourg Bankers’ Association, who will assume the chairmanship of the board following the retirement of current KBL epb chairman Jan Huyghebaert in March of this year;

-- Alfred Bouckaert, former chairman of Belfius Bank, as well as former chairman of AXA Belgium;

-- Nicholas Harvey, deputy CEO of Precision Capital, the Luxembourg-based shareholder of KBL epb, and former chief risk officer and member of the Management Board at Amlin Europe.

“2013 was a successful year for the group, both financially and strategically: we considerably strengthened our franchise across Europe, putting us well on track to realize our vision to become a top 20 European private banking group by 2015,” said Stein.

“By ensuring a seamless leadership transition and simultaneously enhancing the composition of our board of Directors,” he said, “we will be able to accelerate our strategic growth plans, strengthening the ties that bind our group and providing all our clients with an even higher level of personalized service.”

KBL European Private Bankers was founded in 1949 and has a presence in nine countries and €41 billion ($56.1 billion) of client assets under management and €39 billion in assets under custody as of 31 December, 2012.