Liechtenstein-based private bank VP Bank has appointed Urs Monstein as its new group CEO as part of a wider reorganisation of its leadership team.
The appointment of Monstein, who has been serving as the interim head since May 2024, follows an evaluation of both internal and external candidates.
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Monstein first joined VP Bank in 2018 as the Chief Operating Officer, with him a wealth of experience in the financial sector.
Referring to Monstein, VP Bank chairman of the board of directors Stephan Zimmermann said: “In recent months, we have laid important foundations during his time as interim CEO. He has worked closely with the Board of Directors and the Executive Board to embark upon the necessary changes quickly and prudently. Urs Monstein understands our priorities as well as the strengths of VP Bank and knows the areas in which we want to improve. This will enable us to consistently implement the measures necessary to achieve cost efficiency and growth.”
Furthermore, VP Bank chief financial officer (CFO) Roger Barmettler announced his departure to pursue a new professional opportunity outside of the bank.
Barmettler has been with VP Bank since January 2020, contributing significantly to the development of the CFO unit and the strengthening of the bank’s balance sheet.
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By GlobalDataAdditionally, VP Bank (Switzerland) CEO and Region Europe head Mara Harvey will be leaving for personal reasons.
Harvey, who joined the bank in January 2023, has been overseeing the Zurich and Luxembourg locations.
Both Barmettler and Harvey will continue in their roles until the end of 2024 to ensure a smooth transition.
The Group Executive Management now includes client-facing units such as Region Liechtenstein, International Locations, Products, Services & Investments, and Strategic Transformation, alongside the CFO and Chief Risk Officer units.
The bank aims to sharpen its focus on client and market needs by merging the Chief Investment Officer’s Office with Products and Services.
The Strategic Transformation unit, led by Rolf Steiner, will work on enhancing client-related processes and the bank’s market positioning.
Urs Monstein will temporarily manage International Locations, with Philippe Wüst stepping in as interim CFO.
Felix Brill joins the Group Executive Management as the Head of Products, Services & Investments.
These executive changes are subject to approval from the Liechtenstein Financial Market Authority (FMA).
