As part of its efforts to orient the organisation toward changing economic and market conditions, the Board of Directors of VP Bank Group has taken a number of decisions regarding management and personnel.
Group Executive Management will be merged with the Executive Board at the Head Office in Vaduz in a dual role as of 1 January 2014. The organisational structure is to be streamlined in terms of personnel, and going forward will consist of the Chief Executive Officer, Client Business and Chief Financial Officer & Banking Services business units.
The motivation for reducing personnel in Group Executive Management from 1 January 2014 lies not only in new banking sector regulations, but is also driven by the set aim of establishing an efficient client- and market-oriented management structure.
In line with this reorientation, the current Chief Operating Officer Juerg W. Sturzenegger has decided to part ways with VP Bank Group at the end of 2013.
In the past five years, Juerg W. Sturzenegger has – in his 2009 to 2010 role as CEO of VP Bank (Switzerland) Ltd. and subsequently as a member of the Group Executive Management and as Chief Operating Officer of VP Bank Group – implemented vital strategic projects and extended the range of services offered, especially in investment management and other product divisions.
The Board of Directors would like to take this opportunity to thank him for his valued commitment.
Martin Engler, Head of Private Banking Liechtenstein, Günther Kaufmann, Head of Intermediaries & Transaction Banking and Rolf Jermann, Head of Commercial Banking – all current members of the Executive Board at the Head Office in Vaduz – will from 1 January 2014 be concentrating all their efforts on developing their respective areas of responsibility and will step down from the Executive Board.
The Board of Directors would like to thank them for their commitment to the Executive Board, and especially for being able to count on their continued support.
The Executive Board at the Head Office in Vaduz, which is to be merged with Group Executive Management in a dual role, will from 1 January 2014 consist of Chief Executive Officer Alfred W. Moeckli, Head of Client Business Christoph Mauchle and Chief Financial Officer & Head of Banking Services Siegbert Näscher.
This lean organisational structure will serve to simplify roles and processes and to reduce reaction times. Inefficiency caused by overlapping roles can be eliminated, and by increasing Group-wide collaboration and centralising competencies, client orientation can be afforded an even greater focus.