VP Bank, a Liechtenstein-based private bank, has named Patrick Bont – the banking division head of Financial Market Authority (FMA) Liechtenstein – as its new group chief risk officer.

Bont will join VP Bank on 1 November 2020, with responsibility for the group legal services, group compliance and group risk departments.

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As head of FMA’s banking division, Bont’s supervisory remit included Liechtenstein’s banks, investment firms, e-money as well as payment institutions.

Earlier, he held management roles at UBS in Zurich and Hong Kong, including head of business management legal & compliance in the corporate center.

VP Bank CEO Paul Arni said: “Patrick Bont is a particularly experienced management personality with outstanding knowledge in the areas of risk management, compliance and corporate governance.

“He is very familiar with the Liechtenstein financial centre, and his extensive experience will be of great value in the further development of VP Bank as well as in the implementation of our 2025 growth strategy.”

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VP Bank has operations in Vaduz, Zurich, Luxembourg, Singapore, Hong Kong and Road Town on the British Virgin Islands. The firm managed CHF47.6bn at the end of December 2019.

Last month, VP Bank named Tobias Wehrli as the new head of its Intermediaries & Private Banking unit, replacing Chris-toph Mauchle.

Earlier this year, the bank announced several board changes such as proposing the re-election of Beat Graf and Michael Riesen to its board.

It also proposed the name of Thomas Meier as the new chairman.