Daniel Lipp, the private banking head at Swiss banking group St.Galler Kantonalbank, has decided to leave the firm to pursue other opportunities.

“Daniel Lipp leaves St.Galler Kantonalbank immediately at his own request and will accept a new professional challenge,” the bank said in a statement.

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Currently, the bank is on the lookout for a replacement for Lipps. Meanwhile, CEO Roland Ledertgerber has been tasked with carrying out Lipp’s responsibilities on an interim basis.

Lipp had been serving as the head of private banking and a member of the executive board at St.Galler Kantonalbank since 2008. He previously worked at UBS.

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