ORGANISATIONAL STRUCTURE

VP Bank has a robust organisation that is able to deal with a high level of complexity and a dynamic environment by means of a functional management model. The aim is to ensure optimal knowledge transfer between employees in interactions throughout the Group.

IT strategy plays a key role in the vision of an Open Wealth Service pioneer. With this strategic importance in mind, IT has been realigned in the Chief Operating Office. The Core IT Services, Front IT Services, IT Infrastructure & Operations and IT Service Management & Workplace departments now report directly to the Chief Operating Officer as of 1 December 2021 and were raised by one management level on 1 January 2022.

In the Chief Executive Office, Dr Marcel Tschanz took on the newly created role of Chief Transformation Officer on 1 December 2021, reporting directly to the Chief Executive Officer. In this role, he uses agile methods to steer the process of transformation into an international Open Wealth Service pioneer. At the same time, he is responsible for process management in close coordination with all functions of the Bank.

Group Internal Audit underwent a change as of 1 September 2021. Markus Rohner took over the management of this function, in which he reports directly to the Chairman of the Board of Directors, Thomas R. Meier. The previous Head, Nikolaus Blöchlinger, took on a new professional challenge internally.

Pamela Hsu Phua took on the newly created role of Chief Executive Officer for all VP Bank activities in Asia on 1 July 2021. In this role, she is responsible for business in Singapore and Hong Kong. Bruno Morel, Chief Executive Officer of VP Bank Ltd Singapore Branch, decided to hand over the reins as of 1 April 2021, and the function was performed on an interim basis by Thomas Rupf. After a 15-year career at VP Bank, Clare Lam stepped down from her role as Executive Vice President and Head of Hong Kong on 30 September 2021 and has taken on a new role internally. She was succeeded by Reto Marx, formerly Head of Intermediaries & Private Banking at VP Bank in Singapore, on 1 December 2021. With the new overall management for all activities in Asia and the newly established regional management team, the Bank was able to significantly strengthen local know-how and further accelerate the pace of development in the important Asia region.

As of 24 September 2021, Alexander Tsikouras was appointed Chief Financial Officer & Chief Operating Officer Asia and Will Wang was appointed Head of Client Solutions & Strategic Partnerships Asia. These two newly created functions form part of the Asia Management Committee (Asia Manco). The Chief Financial Officer & Chief Operating Officer Asia, based in Singapore, is responsible for driving the bank’s strategic financial and operational efficiency, as well as transformation in Asia. The Head of Client Solutions & Strategic Partnerships Asia, based in Hong Kong, plays an active role in engaging with VP Bank’s clients and strategic partners as well as identifying and expanding business opportunities in the region.

Effective 16 December 2021, Chris Chee has been appointed as Chief Risk Officer (CRO) Asia. Based in Hong Kong, he is responsible for all risk management strategies and operations, as well as supervising the Bank's legal and compliance functions in Asia. He reports on a regional level to Pamela Hsu Phua (CEO Asia) and functionally to Patrick Bont (CRO of VP Bank Group).

The Board of Directors of VP Fund Solutions (Liechtenstein) AG appointed Wolfdieter Schnee as a new member of the Executive Board as of 1 July 2021. He has retained his existing role as Head of Client Services, thereby strengthening client and frontline issues in the Executive Board, which are important in view of the growth ambitions. Ralf Konrad, the long-serving Chief Executive Officer of VP Fund Solutions (Liechtenstein) AG, decided in November to step down from his position and take on a new challenge outside the Bank. This function was taken over on an interim basis by Wolfdieter Schnee.