Lombard International, which focuses on wealth structuring using unit-linked life assurance or private placement life insurance (PPLI), has appointed Axel Hörger as CEO Europe effective 1 February.
He succeeds John Van Der Wielen, previously interim CEO, who will remain a non-executive director of the company.
Hörger will report to John Hillman, executive chairman of Lombard International. He joins Lombard International from his role as CEO at UBS Deutschland AG.
Prior to his time at UBS, Hörger was head of institutional sales for Goldman Sachs Asset Management in EMEA, leading client acquisition activities and defining market and product strategy across the region.
Hörger’s appointment is part of a series of strategic developments for Lombard International including the formal launch, in September 2015, of its global life insurance-based wealth management business.
This announcement followed the integration of Luxembourg-headquartered Lombard International Assurance with US-headquartered Philadelphia Financial.
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In January this year, Lombard International announced the acquisition by Lombard International Assurance of Zurich Eurolife Luxembourg S.A.’s Private Banking Solutions business (subject to regulatory approval), as well as confirmation of its plans to expand into Asia with the appointment of Tammy Lu Tsui as CEO for Asia.
At Lombard International, Hörger will be responsible for continuing the progress of the transatlantic business model to better serve the increasingly complex needs of high net worth individuals and their families. He will be based in Luxembourg, working closely alongside the executive chairman and the firm’s global senior management team.
Commenting on his appointment, Hörger said: "I am excited to take responsibility for developing Lombard International’s strategic growth plans and the continuing expansion of the European business with the objective of providing best in class, global wealth management solutions using life assurance."