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VP Bank is facing significant turmoil, with profits plummeting over 50% to just under 19 million in 2024. CEO Mara Harvey has been dismissed, and two experienced customer advisors from the offshore division have resigned, raising concerns about the bank's future under operational-focused leadership. The management's inability to stabilize the situation has left many questioning the direction of VP Bank.
Mara Harvey, CEO of VP Bank (Switzerland), has departed from the institution after joining in January 2023, following a mass resignation of ten advisors. CFO Roger Barmettler is also leaving, with both remaining until year-end for a smooth transition. Urs Monstein has been confirmed as the interim CEO.
Urs Monstein has been appointed as the new CEO of VP Bank, having served as interim CEO since May. The Board of Directors highlighted his extensive experience in the financial sector, which positions him to drive cost efficiency and growth. Additionally, key management changes include the departures of Roger Barmettler and Mara Harvey at the end of 2024, with new leadership roles established within the Group Executive Management.
VP Bank (Switzerland) has announced that Mara Harvey, CEO and Head of Region Europe, will depart for personal reasons. Harvey, who joined in January 2023 and has overseen the Zurich and Luxembourg offices, will remain until the end of 2024 to facilitate a smooth transition. Felix Brill has been appointed to the Group Executive Board as Head of Products, Services, and Investments.
VP Bank (Switzerland) has announced that Mara Harvey, CEO and Head of Region Europe, will depart for personal reasons. Harvey, who joined in January 2023 and has overseen the Zurich and Luxembourg offices, will remain until the end of 2024 to facilitate a smooth transition. Felix Brill has been appointed to the Group Executive Board as Head of Products, Services, and Investments.
Urs Monstein has been appointed as the new CEO of VP Bank Group, having served as interim CEO since May 2024. His leadership comes amid a reorganization that includes the departure of CFO Roger Barmettler and CEO of VP Bank (Switzerland) Mara Harvey, both of whom will remain until the end of 2024 for a smooth transition. The bank is focusing on enhancing client-related processes and market positioning through its new executive structure.
Urs Monstein has been appointed as the permanent CEO of VP Bank after serving in an interim capacity since May 2024. The bank is undergoing a reorganization, with key departures including CFO Roger Barmettler and CEO of VP Bank (Switzerland) Mara Harvey, as it aims to enhance client alignment and strategic transformation. Monstein emphasizes a focus on creating value for clients while maintaining cost discipline amidst recent challenges.
VP Bank has appointed Urs Monstein as CEO following Paul Arni's departure, while CFO Roger Barmettler and CEO of VP Bank (Switzerland) Ltd, Mara Harvey, will leave by the end of 2024. The bank is realigning its structure to enhance client focus and strategic transformation, with a reported net profit of SFr11.5 million in H1 2024 and an 8.8% increase in client assets under management.
VP Bank has appointed Urs Monstein as CEO following Paul Arni's departure, while CFO Roger Barmettler and CEO of VP Bank (Switzerland) Ltd, Mara Harvey, will leave by the end of 2024. The bank is realigning its structure to enhance client focus and strategic transformation, with a reported net profit of SFr11.5 million in H1 2024 and an 8.8% increase in client assets under management.
VP Bank has appointed Urs Monstein as permanent group CEO following Paul Arni's resignation in May. Monstein will also manage the bank's international business temporarily after the departure of Mara Harvey, CEO of VP Bank Switzerland, and other senior executives, leading to the closure of its Hong Kong office.
Mara Harvey
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