The article was updated on Friday 29 May at 9am to include clarifications from Banque et caisse d’épargne de l’État.

In a few months’ time, the management board of the Banque et Caisse d’Épargne de l’État (BCEE) will undergo a reshuffle. The chief executive officer, Françoise Thoma, had already announced, back in November, step down from her executive role as soon as a successor is appointed, to become a strategic advisor to the board of directors. It is now the turn of the deputy chief executive, Aly Kohll, to leave the institution, but for different reasons. “This is in fact a retirement following the full completion of his years of service,” the communications department of Spuerkeess clarified.

“By Grand-Ducal decree of 30 April 2026, Mr Aloyse [Aly, ed.] Kohll, director and member of the management board at the State Bank and Savings Bank, with effect from 16 September 2026,” reads the entry on the Official Journal’s website. However, this is not a voluntary resignation during his term of office. “The term ‘honourable resignation’ is in fact part of legal and administrative jargon commonly used to formalize the retirement of senior civil servants, and does not correspond to a resignation in the usual sense of the term,” Banque et caisse d’épargne de l’État further explained.

A few weeks ago, Spuerkeess announced a 32.3% increase in net profit for 2025. The State will receive a dividend of €210m. As for Françoise Thoma’s successor as CEO, Camille Fohl, the bank’s chairman, had stated that he had received “several high-quality applications”. However, a decision will not be made any time soon, “notably due to the lengthy appointment procedures for a systemically important bank”.