VP Bank Group comprises six organisational units: “Client Business”, “Investment Solutions”, “Chief Executive Officer”, “Chief Financial Officer”, “Chief Operating Officer” and “General Counsel & Chief Risk Officer”.
Changes in VP Bank Group’s organisational structure in 2019
CEO Alfred W. Moeckli left VP Bank Group at end-January 2019. The Board of Directors named Dr Urs Monstein, Chief Operating Officer since May 2018, to serve as interim head of Group Executive Management. The new CEO Paul H. Arni assumed his duties as from 1 October 2019.
The Human Resources Group was restructured at the start of 2019. All areas involving advisory, information and services for employees and managers were combined into the new HR Consulting department. Meanwhile, the numerous HR projects as well as the planned cultural transformation to an agile bank required an increased focus on the project portfolio and organisational development. To that end, the new HR Projects & Change Management unit was created.
The company’s hierarchy was streamlined with the reorganisation of the Investment Solutions unit at 1 March 2019 and through an analysis of processes and the overall organisational structure, thereby making decision-making channels even shorter and more efficient. After Stefan Schwitter stepped down as Head of the Group Investment Center and left VP Bank in January 2019, the decision was made not to replace him.
Christoph Boner, the Head of Group Investment Management, and André Rheinberger, Head of Group Investment Advisory, now report directly to CIO Felix Brill. In conjunction with the fund management company VP Fund Solutions, they are responsible for the products and services level of the Investment Solutions unit and ensure its Group-wide operation. Group Investment Research was integrated within the CIO Office under the leadership of Bernd Hartmann. This unit manages the Group’s research and financial markets communications with clients and the media as well as the investment process. Partnering Solutions is driving the expansion of the Private Markets Portfolio and developing client-ready solutions for private market investments. Group Product Management was integrated within the newly created CPO Office under the direction of Marcel Fleisch as Chief Product Officer. Here, along the lines of a Product Development Center, new ideas and projects from Investment Solutions are initiated, VP Bank’s product line is further developed and projects of the entire unit are managed.
The financial industry must respond to continuous and rapid change. In order to be best prepared for this change, the new Corporate Excellence & Transformation unit was created as from 1 August 2019. This unit acts as the Group-wide competency centre for process management, business architecture and the bank’s digital transformation. It is managed by Günter Klemens and reports directly to COO Dr Urs Monstein.
At 1 September 2019, the Group Financial Management & Reporting unit was created in order to combine resources and skills in this area. It comprises employees from the existing Group Operational & Regulatory Risk and Group Accounting departments. This new unit led by Robert Kilga reports directly to CFO Siegbert Näscher. Within Group Financial Management & Reporting, two departments were created: Group Financial Regulatory Reporting and Group Financial Management. The main duties of Group Financial Regulatory Reporting include all financial disclosures to supervisory authorities, central banks and others. Group Financial Management is now the competency centre for VP Bank Group’s capital and liquidity planning and management along with the corresponding regulatory matters. The Group Risk unit therefore now comprises the Group Financial Risk, Group Security and the newly created Group Operational Risk departments. The Group Operational Risk department is additionally managed by Michael Rey.
At 1 October 2019, the Group Tax Center was folded into Group Compliance and renamed Group Tax Compliance. This unit comprises the former employees of the existing teams Group Tax Center and Tax Statements. Group Compliance therefore now includes Group Tax Compliance, Group Compliance Transformation, Group Financial Crime Compliance and Group Investment Compliance. This new organisational structure combines all compliance matters under one management by Markus Reinacher and thereby adheres to a uniform risk-based compliance approach.
Changes in the organisational structure of Group companies in 2019
Dr Oliver Möhl, COO and member of VP Bank (Switzerland) AG’s executive management, left the bank at end-August 2019. Antony Lassanianos took over the COO duties on an interim basis. As from 1 December 2019, Martin Vetsch joined VP Bank (Switzerland) AG as the new COO. In this capacity he became the manager of the Regulatory, Services & Risk unit and a member of VP Bank (Switzerland) AG’s executive management.
As part of its growth strategy, VP Bank Ltd Singapore Branch expanded its organisational and management ranks by creating the position Head of Client Business. At end-January 2019 Reto Marx joined VP Bank Ltd. Singapore Branch and filled this position. He is responsible for the Private Banking, Intermediaries and Investment Advisory & Treasury areas and reports directly to the CEO Bruno Morel.
In 2019, our subsidiary VP Fund Solutions expanded its management team. Dr Martin Jonasch, who has been with VP Fund Solutions since 2012 and was Head of Advisory & Structuring since 2016, was named Chief Operating Officer of VP Fund Solutions (Liechtenstein) AG as from 1 July 2019. Reto Grässli, who served as Head of Fund Operations & Risk Management since 2012 and has been a member of VP Fund Solutions (Liechtenstein) AG’s executive management, is now Chief Technology Officer and focuses on the key issues of automation and digitalisation at both fund companies. Torsten Ries, Head of Private Equity & Real Estate (PERE), was a member of VP Fund Solutions (Luxembourg) SA’s executive management. Since 2013 he has been at VP Fund Solutions and will also continue to act as the head of PERE. As before, Ralf Konrad remains the Head Investments and CEO of VP Fund Solutions (Liechtenstein) AG, Dr Uwe Stein is Chief Risk Officer of VP Fund Solutions (Luxembourg) SA and Ralf Funk is Chief Financial Officer of VP Fund Solutions (Luxembourg) SA under the overall leadership of Eduard von Kymmel.
Changes after the reporting period ending 31 December 2019
Following the departure of Dr Hanspeter Kaspar from VP Bank at end-September 2019, Roger Barmettler replaced him as Head of Group Finance as from 1 January 2020.
At 1 January 2020, VP Bank combined all support activities involving market and segment management into a new organisational unit, Market & Segment Management, led by Patrick Bischofberger. This unit reports to the Head of Client Business, Christoph Mauchle. In addition to implementing target market and segment strategies, this unit ensures in particular Group-wide coordination of content and processes for market and segment strategies while providing support to managers in these areas. Meanwhile, the Group’s strategic management was folded into the CEO Office under the management of Dr Rolf Steiner. The main duties of the newly expanded CEO Office include management of Group-wide strategy along with everyday management support. The duties therefore include supporting the development of the strategy and management of the strategic project portfolio on the one hand and the management of M&A activities on the other.
Organisational structure – listed
VP Bank, Vaduz, Head Office
Subsidiaries with bank status
Wealth management companies
Fund management companies