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Belgium’s largest financial group KBC, which was one of the big casualties of the 2008 financial crisis, has announced a board reshuffle with a new chief financial officer, chief executive of the international markets business unit and chief innovation officer.

Luc Popelier, currently chief financial officer, has been promoted to become chief executive of the international markets business unit, succeeding Luc Gijsens who is retiring.

Mr Popelier is replaced as CFO by Rik Scheerlinck, currently head of KBC’s Hungarian subsidiary K&H bank.

Erik Luts, curently chief innovation manager, will join the board in the new position of chief innovation officer.

The bank said in a statement on Friday the appointments had been approved by the European Central Bank and National Bank of Belgium.

Thomas Leysen, chairman, said: “The executive committee has all the knowledge and talent it needs to confidently head to the future. Our clients, staff, shareholders and all other shareholders can be rest assured that our company is in good hands.”

KBC, a bancassurer created through the 1998 merger of Kredietbank, ABB insurance and agricultural mutual Cera, took a €7bn bail out during the financial crisis from the Belgian federal government and the Dutch-speaking Flanders regional government.

At the end of 2015, it announced it had repaid all its state aid, five years ahead of schedule. Shares are trading 0.5 per cent higher at the start of Friday trading.

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