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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.
Urs Monstein has been appointed as the permanent Group CEO of VP Bank, transitioning from his interim role. Previously serving as COO, Monstein had a brief stint as interim CEO in 2019 before Paul Arni took over. His latest promotion marks a significant step in his career at the Swiss bank.
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.
Urs Monstein has been appointed as the new group CEO of VP Bank, following the resignation of Paul Arni in May. Monstein, who has been serving as interim CEO, was chosen by the board of directors after a thorough evaluation of both internal and external candidates.
Mara Harvey, head of VP Bank in Zurich, has officially resigned amid a crisis at the institution, with many experienced staff leaving for competitor EFG. Her leadership faced criticism for favoritism, particularly towards former colleagues, and the bank is now under the interim CEO Urs Monstein, signaling potential downsizing and a focus on cost efficiency.
VP Bank undergoes significant changes in its Executive Board, with CEO Paul Arni's departure followed by the resignations of CFO Roger Barmettler and CEO of VP Bank (Switzerland) Ltd, Mara Harvey. Urs Monstein has been appointed Group CEO, leading a restructuring that includes the creation of a new Strategic Transformation unit.
VP Bank is undergoing significant changes in its Executive Board, with CEO Paul Arni's recent departure prompting the appointment of Urs Monstein as the new Group CEO. CFO Roger Barmettler and CEO of VP Bank (Switzerland) Ltd, Mara Harvey, are also leaving, leading to a comprehensive restructuring of the organization. The new leadership will focus on enhancing the bank's strategy and operations amid challenges posed by falling revenues.
VP Bank in Zurich is facing a crisis as a significant number of senior bankers, particularly those serving Central and Eastern European clients, have departed, raising concerns about the bank's future. The new Chairman, Stephan Zimmermann, faces challenges with operational management under Mara Harvey, who has been criticized for her leadership and the performance of her team. With ongoing departures and a leadership vacuum following the exit of CEO Paul Arni, the bank's stability is at risk, potentially leading to a sale if the trend continues.
VP Bank in Liechtenstein faces enforcement proceedings from FINMA for serious regulatory violations, leading to CEO Paul Arni's immediate resignation, which he denies is related. The bank, which has cooperated with the regulator, plans to appeal the ruling, citing a settled client relationship from 2020. Amidst these challenges, VP Bank is undergoing a cost-cutting program and has seen changes in its Board of Directors.
Paul Arni
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leadership changes at vp bank as new ceo and realignment announced
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