Organisational structure

VP Bank Group comprises six business units: “Chief Executive Officer”, “Inter­medi­aries & Private Banking”, “Client Solutions”, “Chief Risk Officer”, “Chief Financial Officer” and “Chief Operating Officer”. 

As of 1 January 2020, VP Bank consolidated all supporting activities related to market and segment management in a new organisational unit designated “Market & Segment Management”. In addition to the implementation of target-­market and segment strategies, it also ensures Group-wide coordination of the content and processes of market and segment management and support for the managers responsible for the markets and segments. At the same time, the strategic management of the Group was consolidated in the CEO Office under the leadership of Dr Rolf Steiner. In addition to day-to-day management support, the primary tasks of the new, expanded CEO Office therefore include management of Group strategy in particular. This includes support for strategy development and ­management of the strategic project portfolio as well as management of M&A activities and innovation. 

As of 1 January 2020, Roger Barmettler succeeded ­Hanspeter Kaspar as Head of Group Finance. Kaspar left VP Bank at the end of September 2019.

On 30 April 2020, Cécile Bachmann stepped down as Head of Group Communications & Marketing. The department is now led by Felipe Gomez de Luis and has been organisationally reintegrated into the CEO Office.

In connection with the valuation adjustment on a single position that was announced in spring 2020, VP Bank Group reorganised and restructured the responsibilities in its Credit division. In the course of these measures, Siegbert Näscher decided to step down from his position as CFO and leave the Bank on 19 June 2020. Roger Barmettler, Head of Group Finance, took over management of the CFO division on an interim basis. He has been definitely appointed CFO as of 1 March 2021.

In connection with the reorganisation of credit processing activities, Monika Vicandi, General Counsel & Chief Risk Officer, also left the Bank. Dr Rolf Steiner, Head of the CEO Office, assumed the function of Chief Risk Officer, which now also includes Credit Risk Management, on an interim basis. The Board of Directors of VP Bank then appointed Patrick Bont, the former Head of the Banking Division of the Financial Market Authority (FMA) Liechtenstein, to serve as Group Chief Risk Officer starting on 1 November 2020.

The Group Credit division was split in order to ensure a clear division between the first line of defence (operational management) and the second line of defence (risk management). In future, the Group Credit Consulting department will be entrusted with the task of strengthening the entire front-office organisation operationally with regard to ­support for and ensuring further development of first-line expertise. Credit Processing was integrated into Credit Consulting. The new department, together with the Group Product Management department, is now part of the Group Product Center division under the leadership of Marcel Fleisch, with direct reporting to the Head of Intermediaries & Private Banking.

In future, Credit Risk Management in the Group Credit Risk division will focus on traditional second line of defence duties such as credit approval, monitoring and reporting. Since 1 December 2020, Group Credit Risk has been ­managed by Arndt Fauser, who reports directly to Chief Risk Officer Patrick Bont. 

After seven years in Group Executive Management as Head of Client Business, Christoph Mauchle decided to take early retirement and leave VP Bank as of 30 September 2020. Head of Intermediaries Liechtenstein Tobias Wehrli joined the Group Executive Management team on 1 July 2020, assuming responsibility for the management of the newly structured Intermediaries & Private Banking (IPB) division.

Christophe Racine took over as Head of Intermediaries on 1 November 2020, succeeding Tobias Wehrli in this position.

Werner Wessner, IPB Office, and Patrick Bischofberger, Head of Market & Segment Management, left the Bank at the end of July 2020. The IPB Office department is now headed by Sibylle Haag.

Eduard von Kymmel, Head of VP Fund Solutions of VP Bank Group and CEO of VP Fund Solutions (Luxembourg) SA, stepped down from his positions and left VP Bank Group at the end of 2020. The overall management position for VP Fund Solutions will not be filled. The management of VP Fund Solutions (Luxembourg) SA will be taken over by Torsten Ries as the new CEO.

As part of Strategy 2026, Thomas von Hohenhau was appointed to begin serving as Head of the newly created Client Solutions division on 1 September 2020. In this role, Thomas von Hohenhau also joins Group Executive Management. The Client Solutions unit has been tasked with creating systematic access to new investment oppor­tunities in the private market. The new business unit will be assuming responsibility for earnings and results, building on the fund services of VP Bank Fund Solutions and ­supplementing them with investment solutions in the ­private market. The objective is to build another pillar with new business opportunities in addition to the established business with intermediaries and private clients.

The CEO of VP Bank (Luxembourg) SA, Thomas Steiger, took early retirement and left VP Bank at the end of May 2020. The Board of Directors of VP Bank (Luxembourg) SA appointed Claus Jørgensen as CEO of our Luxembourg subsidiary.