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Press release
06 Jun 2023
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Luxembourg, LU
EY Luxembourg announces a new leader in charge of the banking industry
EY Luxembourg has the pleasure to announce the nomination of Dorian Rigaud as the new Banking and Capital Markets sector Leader (BCM), succeeding to Bernard Lhoest.
Bernard Lhoest has been an auditor since 1991 and joined EY Luxembourg in 2002. He has been leading the Banking and Capital Markets (BCM) practice since 2009. Bernard will be retiring from his functions as of 1st July.
Dorian Rigaud, 35, is a Partner in the BCM practice. Since he joined EY in 2011, he has been working with leading banks in Luxembourg, mostly as an auditor but also in advisory roles. He is a Chartered Accountant in France (“Expert comptable diplômé”) and in Luxembourg (“Réviseur d’entreprises”).
Dorian Rigaud (left) and Bernard Lhoest
In response to his nomination, Dorian comments: “Bernard has gained inestimable experience and built strong client relationships during his time at EY, establishing a solid foundation for future success as a remarkable mentor. It is with great honor that I will assume his responsibilities, ready to support the banking sector in its evolution and to accompany our clients in their transformation journey towards a more digital, efficient and sustainable banking future. Home to 123 international banks from 26 different countries and many FinTech and investments firms, Luxembourg is a pan-european banking center with global reach. Its strategic location, favorable business environment, and innovative mindset allows the banking ecosystem to be well-positioned to continue to play a vital role in Luxembourg’s success. I strongly believe that our team can be a meaningful force to support this sector’s ambition”.
In collaboration with a rejuvenated and diverse leadership team with complementary knowledge, Dorian will guide the firm's clients through the crucial transformations that will be key in preserving the vital role of banks in ensuring economic stability. This is particularly significant when considering ABBL’s estimates that nearly 20% of banks are not profitable.
Beyond the sustainability and digital topics which are at the center of the banks’ agenda, his leadership team will support the drive for profitability by identifying the right merger opportunities and potential outsourcing possibilities in order to focus on core and profitable activities. Finally,
Dorian and his team will ensure that the firm remains market leader in audit, harnessing the power of data and technology to deliver top quality audits -- continuously addressing stakeholders’ needs for trust and confidence in the banking sector.
The banking sector has always been a cornerstone in EY strategy in Luxembourg and will remain as critical in the years to come.
Olivier Coekelbergs, Country Managing Partner of EY Luxembourg, adds: “Bernard’s exceptional leadership in serving our banking clients has been undeniable. I place my full trust in Dorian and his team, who will add new perspectives to expertly navigate our clients through challenges, capitalize on opportunities, and drive sustainable growth in an ever-evolving marketplace, building on Bernard’s legacy”.