Martin Greweldinger has assumed the role of group CEO of Avaloq following the departure of Thomas Beck, co-CEO of Avaloq, from the Avaloq group executive board.

Greweldinger will have access to Beck in a senior adviser role during the transition, offering assistance as required.

Beck and Greweldinger were named co-CEOs of Avaloq in April 2021. Beck joined Avaloq in 2012 and has held a number of senior management roles. He has been instrumental in advancing the company’s strategy, global expansion, and innovation initiatives.

His choice comes as Avaloq marks one of its most profitable years to date in 2023.

As the new fiscal year begins, Greweldinger aims to drive Avaloq’s growth. He joined the organisation in 2019, carrying with him more than two decades of financial industry expertise, including leadership positions in international banking and consulting firms.

By offering modern wealth management technology and services, Avaloq is steadfast in its long-term objective to drive the financial industry’s digital revolution.

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Avaloq’s future priorities remain expanding its strategic alliances, improving its service, and implementing cloud transformation.

Greweldinger, group CEO of Avaloq, stated: “We extend our gratitude to Thomas Beck for his outstanding contribution to Avaloq’s ongoing success, and we wish him all the best with his well-earned retirement. This transition represents a natural progression for Avaloq, and we look forward to continuing to support our clients and the digital evolution of the financial industry.”

Furthermore, in February, Security Bank, headquartered in Makati, formed a new relationship with Avaloq.

With the help of the Avaloq Core Platform, the bank hopes to streamline its wealth management operations and fortify its front office by implementing Avaloq’s Relationship Manager (RM) Workplace solution.

The alliance will improve customer satisfaction while simplifying the bank’s operations.