Press release
Banque Raiffeisen announces changes to its Board of Directors and its Management Board with effect from 1 November 2020. In line with the Bank’s ongoing general policy, these changes will enable it to make the most of the experience and skills of each individual member in order to meet the current and future ambitions as well as the challenges which lie ahead for the Bank.
After spending nine years as Chairman of the Bank’s Board of Directors, on 21 October Ernest Cravatte announced his intention to resign from this position, thereby enabling a renewal of management structures.
Fifteen years of service at Banque Raiffeisen
Born in Luxembourg in 1949, married with three children and a graduate of the Université Libre de Bruxelles, from 1974 Ernest Cravatte held various positions at Banque Générale du Luxembourg (currently BGL BNP Paribas) of which he was a member of the Management Board and the Board of Directors until the beginning of 2000. He then returned to his original profession, becoming a partner in the law firm Welter, Cravatte, Wurth, Kinsch (currently Wurth Kinsch Olinger).
In 2005, Ernest Cravatte became Chairman of the Management Board of Banque Raiffeisen. He held this position until 2011, when he became Chairman of the Board of Directors. Now, after 45 years service in the financial market place, Ernest Cravatte has decided to end his mandate as Chairman.
On behalf of the Management Board and the entire Bank, Guy Hoffmann would like to thank Ernest Cravatte for his outstanding work and exemplary commitment to Banque Raiffeisen, its staff members, partners and customers.
Guy Hoffmann is appointed Chairman of the Board of Directors
Current Chairman of the Management Board, Guy Hoffmann will succeed Ernest Cravatte as Chairman of the Board of Directors.
“The policy pursued by Ernest Cravatte and the results achieved throughout his chairmanship have strengthened our positioning and steered our Bank in the right direction. Thanks to him, Banque Raiffeisen has succeeded in expanding its activities while remaining true to its human scale, its commitments and its values. It is only logical that I intend to continue in my new role on the same lines. I am looking forward to continuing my new task in the same way,” stresses Guy Hoffmann.
Born in Esch-sur-Alzette in 1964, married with one child, Guy Hoffmann holds a Master’s Degree in Business Administration (MBA) from the University of Sheffield Hallam. Subsequently, he attended various academic and executive training programmes, notably at the IMD in Lausanne and the London Institute of Banking and Finance.
In addition to his advanced theoretical training, Guy Hoffmann has acquired a wealth of professional experience in the banking sector. After holding various management positions at Banque Générale du Luxembourg, he joined Banque Raiffeisen in 2007 as a director. In the same year, he joined the Management Board, in charge of corporate and SME clients and private banking. He became a member of the Board of Directors in 2008. Three years later, in 2011, he succeeded Ernest Cravatte as Chairman of the Bank’s Management Board and successfully steered the Bank’s development in Luxembourg.
Guy Hoffmann has also been Chairman of the Board of Directors of the Association des Banques et Banquiers Luxembourg (ABBL) since April 2018, Vice-Chairman of the UEL (Union des Entreprises Luxembourgoises) and member of the Presidium of the IRU (International Raiffeisen Union).
Yves Biewer, new Chairman of the Management Board
Following the above changes, Yves Biewer, member of the Management Board, is appointed Chairman of the Management Board and will replace Guy Hoffmann.
Born in 1963, Yves Biewer, married with two children, holds a degree in Business Administration (Université de Liège). After holding various positions of great responsibility at Banque Internationale à Luxembourg, UBS and the Dexia Luxembourg Group, Yves Biewer joined Banque Raiffeisen in 2013. Two years later, he joined the Bank’s Management Board, especially in charge of commercial activities.
Changes in continuity
Ernest Cravatte expresses his satisfaction at seeing his succession as one of continuity. “It was important for me to leave with the certainty that the Bank was run by competent people who were dedicated to the cooperative cause. I would like to thank all the partners of the Bank, the members of the Board of Directors and the members of the Management Board, as well as the Bank’s managers and staff members, for the trust they have shown in me over the last fifteen years. Without all of them, and without our loyal customers, the Bank would not have enjoyed the development it has enjoyed to date. I sincerely wish the Bank, its staff members and its customers and members all the best in overcoming the health and economic crisis we are currently experiencing.”