Banque de Luxembourg Investments has strengthened its management team to meet what it says are the "new challenges facing the asset management industry".

In a statement on 1 September, it said Fanny Nosetti has been appointed as BLI's chief executive having joined the Bank in 2000 as a specialist in multi-management (management through external funds), for which she has been responsible to date.

Guy Wagner, the bank's chief economist since 1986, and BLI's managing director since 2005, now focus entirely on his role as chief investment officer, managing the Bank's flagship fund BL Global Flexible EU and continuing to refine the investment approach he has initiated and developed with his teams.

Nico Thill joins BLI as deputy CEO to cover governance and control functions after spending several decades at Banque de Luxembourg as a specialist in this area and in investment funds, and has been in charge of the depositary banking services that the Bank offers professional asset managers.

Cedric Lenoble will continue in his position as chief operating & financial officer at BLI, a position he has held since 2017.

BLI said it has acquired recognised expertise in asset management, notably in international asset allocation across three main classes: equities, bonds and multi-asset strategies. 

Wagner said: "In an increasingly complex world, we offer common sense investment solutions: active management, patience, quality, risk sensitivity, and consideration of ESG (environmental, social and governance) criteria. 

"These are the key pillars of the success of our international management over more than 30 years, and, together with my teams, I want to continue to develop and refine them going forward. The change in governance will allow us to further develop our asset management activities here in Luxembourg."

Commenting on the change of governance, Pierre Ahlborn, administrateur délégué of Banque de Luxembourg, BLI's parent company said, "Fanny's personal qualities, her in-depth knowledge of the business, professional expertise and track record in leading our experienced teams, make her an ideal fit and I am convinced, as is Guy, that Fanny Nosetti will continue to drive the success of our asset management company. 

"In an increasingly complex world, Guy Wagner's experience and support will be a real asset for Fanny, and I am delighted that he will now be able to fully focus on developing the investment strategy and management of portfolios for the benefit of all those who entrust us with the responsibility of managing their savings."

Fanny Nosetti, BLI's new chief executive said: "The world of asset management has become increasingly complex in recent years. 

"In addition to our core responsibilities of managing assets, we now have to contend with key challenges such as compliance requirements with respect to the regulatory framework, risk management and the theme of sustainable and responsible investments.

"When I joined the Bank well over 20 years ago, I forged strong relationships with the teams at BLI and the Bank, and adhered quickly to the asset management concept, an independence of thought and judgement, and the values both entities uphold. The changes within our Executive Committee reflectour desire to tackle these challenges with enthusiasm and professionalism.

"I am thrilled to embark on this new stage together with the teams at BLI to lead the company to a successful future."